Here is Episode 6 in our weekly MMTed Q&A series. This is the second-part of my discussion on the Job Guarantee with Dr Pavlina Tcherneva and in this episode we discuss the central role that employment buffer stocks play in Modern Monetary Theory (MMT), a point that is often missed by those who think it is just a job creation program and of secondary (and dispensable) importance to the ‘banking’ aspects of MMT. As you will hear (and see), the Job Guarantee is an integral part of MMT and that status is derived from the elemental insights that MMT offers about the way a currency works. If a person thinks the Job Guarantee is an unnecessary add-on to MMT, then they haven’t understood the basics of MMT. It is as simple as that.
MMTed Q&A – Episode 6
This is Episode 6 in the MMTed Q&A series.
This week we continue my Zoom conversation with Dr Pavlina Tcherneva where we answered questions submitted by readers about the Job Guarantee.
Pavlina has just published a book – The Case for a Job Guarantee (published by Wiley) – which provides a really great entree into the world of the Job Guarantee.
In this episode we discuss the intrinsic importance of the Job Guarantee to MMT.
The video goes for 9:37 minutes.
Note the discussion is mostly via Zoom, which means at time the audio and video quality is less than first-class. But we are learning to live with that constraint.
This is the – YouTube link – for the video.
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How Deep is the Ocean
Lee Konitz died on April 15, 2020 from COVID-19. He was part of the 1940s cool jazz school and by the 1950s was playing with Miles Davis and moving into bebop.
When I first heard him playing in the 1970s I was struck by the length of his melody parts during solos. That was a feature of his playing which set him apart.
That is enough for today!
(c) Copyright 2020 William Mitchell. All Rights Reserved.