The Job Guarantee and Modern Money Theory: Realizing Keynes's Labor Standard

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Series: Global Institute for Sustainable Prosperity

Economics Labor General Political Science

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ISBN10: 331983522X
ISBN13: 9783319835228
Publisher: Palgrave MacMillan
Published: May 3 2018
Pages: 228
Weight: 0.67
Height: 0.53 Width: 5.83 Depth: 8.27
Language: English

The contributors to this edited collection argue that a flexible Job Guarantee program able to react to an economy's fluctuating need for work would stabilize the labor standard, the value of employment in relation to money. During economic downturns, the program would expand to provide more public sector jobs in response to private sector layoffs. It would then contract when economic growth offered private sector employment opportunities. This flexible full employment program would create a balanced, perpetually active labor force, providing the macroeconomic stability necessary to define a functioning labor standard.

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