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Is MMT Real? #4: J.W. Mason

RABBITHOLE

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Is There a Benefit to a Jobs Guarantee?

Is there any macroeconomic benefit to be gained by something like a jobs guarantee in the inflation sense over some other kind of broad benefit that doesn't come with labor output? I don't think so i think you know again the old inflation control mechanism was supposed to be about the fact that the wage was was fixed and therefore the presence of the job guarantee would limit wage increases in the private sector. Government can go and increase production in those areas and hire people to do all kinds of useful work, says Matt Vrune.

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