Commentaries (some of them cheeky or provocative) on economic topics by Ralph Musgrave. This site is dedicated to Abba Lerner. I disagree with several claims made by Lerner, and made by his intellectual descendants, that is advocates of Modern Monetary Theory (MMT). But I regard MMT on balance as being a breath of fresh air for economics.
Saturday, 17 September 2016
You have to wonder whether advocates of JG know what’s going on.
Many advocates of the so called “Job Guarantee” spend their time discussing what the ideal JG scheme might look like. (JG is roughly speaking what might be called “make work”: i.e. relatively simple and low paid jobs created by government for the unemployed pending the appearance for them of regular jobs).
Some of these advocates seem to know nothing about JG schemes that are currently up and running. Nor do they seem to know much about the large number of JG schemes that have existed in the past. E.g. see here.
There’s actually a JG scheme which was set up in the UK about ten years ago, called the “Work Programme” which incorporates some of the main characteristics of the JG scheme I advocated twenty five years ago (1991). E.g. there’s the idea that both public sector and private sector employers should be involved.
I’m far from happy with every aspect of the Work Program. Nevertheless it’s nice to see one’s ideas being put into practice, even if those who actually implemented the Work Programme didn’t actually pay any attention to my 1991 work.
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