Pavlina Tcherneva-ri egindako elkarrizketa (2021ean)

Ep 26 Genuine Hope Completing the Roosevelt Revolution with Pavlina Tcherneva

https://i.ytimg.com/vi/_MIKWxdRq4o/hqdefault.jpg?sqp=-oaymwEZCNACELwBSFXyq4qpAwsIARUAAIhCGAFwAQ==&rs=AOn4CLAjaa2Nb06_feSj7WYaQiC24ffSgg

Bideoa: (https://www.youtube.com/watch?v=_MIKWxdRq4o&feature=youtu.be)

Who better to explain the Federal Job Guarantee than Pavlina Tcherneva, who wrote her first paper on the subject in 1996, when it was called the Employer of Last Resort? This was at the height of the Clinton “Goldilocks economy,” which boasted of full employment. Needless to say, the ELR did not capture the popular imagination. Now, almost a quarter of a century later, the conversation has shifted. The FJG is getting noticed. With the campaign season heating up, we are re-releasing this interview from 2018, in which Tcherneva talks about her newest working paper. She talks to Steve about the wide-ranging effects of chronic unemployment and defines the essential components of the solution.

The Job Guarantee is not just a policy for full employment, but for structural reform. It takes on macroeconomic, socio-economic, and labor market problems and shifts the paradigm for stabilization. We have a choice: we can stabilize the economy with a pool of unemployed workers, or it can be stabilized with a pool of the employed. The public sector is the only one that can serve this countercyclical function, through the power of the public purse.

Tcherneva points out that the government has price supports for commodities like dairy, soybeans and corn. The most important commodity is neglected: Wage labor. She reminds us that economists, going back to Adam Smith, have always recognized that labor is a special input of production — unlike machinery, factories, or raw material. Labor is the one commodity that reproduces the economy and the social reality. Yet it is the one commodity that is not supported by public policy.

Now that the Job Guarantee has come out of the closet, there are plenty of distorted, diminished proposals that miss the mark. According to Tcherneva there are three essential components for a Job Guarantee that will serve its full macroeconomic function:

  1. It must be a permanent program1
  2. It must be universal
  3. It must establish a wage floor

The wonks in our audience will appreciate the discussion of the JG as a preventive program, going much farther than merely preventing unemployment. It will prevent crashes in the labor market and the collapse of aggregate demand. There’s a marked difference in the way workers spend into the economy when they’re receiving unemployment insurance versus when they have guaranteed employment, even at a minimum wage. It’s the difference between retrenchment and full economic engagement. The less wonky will be grateful for Tcherneva’s clear, direct illustration of these concepts.

This interview covers a wide range of related issues, from the three most common arguments against the Job Guarantee, to the faux Keynesians, serving up crank schemes for economic growth. After listening to this episode you will be armed and ready for the onslaught of lies and misconceptions the candidates will be slinging.


Warren Mosler-en iritziz, aldiz, “we open up the federal, state, local governments to be able to hire transition workers on a fifteen dollars an hour transition wage to help them out with areas that might need help, knowing that there’s a good chance we’re going to keep fiscal policy loosened up where these people are going to be transitioning away from them and take jobs in the private sector”, Elkarrizketa Warren Mosler-ekin (2020) (2).

Iruzkinak (1)

  • joseba

    Elkarrizketa Pavlina Tcherneva-ri (2021ean) (2)

    (https://twitter.com/MMTpodcast/status/1354470892949155847)

    MMT Podcast (Christian Reilly)@MMTpodcast

    Out today wherever you get your podcasts! Author and MMT scholar
    @PhilArmstrong58 talks to author of “The Case For A Job Guarantee” Professor Pavlina Tcherneva (@ptcherneva) at an event organised by the @GowerInitiative For Modern Money Studies.

    https://pileusmmt.libsyn.com/85-pavlina-tcherneva-phil-armstrong-in-conversation

    2021 urt. 27

    #85 Pavlina Tcherneva & Phil Armstrong: In Conversation
    #85 Pavlina Tcherneva & Phil Armstrong: In Conversation
    Author and MMT scholar Phil Armstrong talks to author of “The Case For A Job Guarantee” Professor Pavlina Tcherneva. Event organised by the Gower Initiative For Modern Money Studies.

    Entzun hemen: https://pileusmmt.libsyn.com/85-pavlina-tcherneva-phil-armstrong-in-conversation

    [Transcript]
    Opening monologue for episode 85 – Pavlina Tcherneva & Phil Armstrong: In Conversation
    At the beginning there, you heard professor of economics and author of “The Case For A Job Guarantee”, Pavlina Tcherneva, and in a moment, we’re going to be hearing a conversation between Pavlina and MMT scholar Phil Armstrong, at an online event which took place on the 24th of January 2021.
    In the show notes, I’ve linked to the website of the organisers of the event, our associates the Gower Initiative for Modern Money Studies – and their website is also where you can sign up for email alerts about upcoming events, and support them financially, and it’s also where you’ll soon be able to see video of this event.
    I(…)
    In the conversation, Pavlina mentions endogenous money, and that can be a tricky concept for people who are new or newish to MMT to grasp, so we have a whole episode explaining it, and that’s our episode 43 with Sam Levey.
    Pavlina also touches on the birth of the Euro and we talk about the problems arising from the Eurozone member nations’ lack of what academics call monetary sovereignty, and an MMT-informed solution proposed by Pavlina and Dr Dirk Ehnts is laid out in our episode 55.
    And Pavlina also talks about the influence of primary MMT academic Professor L. Randall Wray, who was our guest in episode 53, and that’s really worth a listen, so I’ve linked to all of the above in the show notes, along with all of our episodes with Phil and Pavlina, and to where you can get hold of their books.
    (…)
    So thanks as ever for the time you put into understanding MMT – and thanks again to Sara, Claire and Prue from GIMMS for organising this event. We start with opening remarks from Prue, let’s dive in!

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