The Job Guarantee, and the need for a goverment to issue its own currency
On this web
page I have placed two audio interviews. They are with professor of economics Bill Mitchell,
director of the Centre of Full Employment and Equity (CofFEE)
The first interview is about the Job Guarantee (JG), a reform that enables any market (capitalist) economy to employ everyone that wants paid work, immediately, as long as they want, and in the community where they live. To some degree this interview also goes into the issue of whether a JG system will create inflation.
The second interview goes deeper into the financial side of the JG. It explains why governments should and can run budget deficits, and why this is not necessarily inflationary as many skeptics would argue. It discusses why the "independence" of the Central Bank from the government is a complety artificial and dangerous construct. It explains the supreme importance of a country's government being the issuer of the currency in circulation (as opposed to countries adopting the U.S. dollar as their national currency, or European countries rescinding their own currency for the Euro). It explains why any country and even a very poor one can lift itself by its own bootstraps if the government implements a JG system, paid by own-issued currency.
Both these interviews were done in June 2004 by Trond Andresen, who is a Norwegian academic -- on a sabbatical at CofFEE at the time.
Technical note: It is recommended that you download the interview(s) to your own machine, and then listen. Right-click with the mouse and follow instructions. Both interviews are strongly compressed MP3. Hopefully the audio quality is still acceptable.
First interview (5.4 Mb, 46:04 min.):
Second interview (5.75 Mb, 40:35 min.):
Any feedback is welcome!