Monthly Archives: October 2012

Job Guarantee 2004

The following interviews with Bill Mitchell were done in 2004 when Norwegian Heterodox Economist Trond Andresen was on Sabbatical at the Centre of Full Employment and Equity.

The first interview of Bill Mitchell by Trond Andresen 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 of Bill Mitchell by Trond Andresen 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. And issues associated with East Timor currency arrangement.

That’s the Job Guarantee and more in the year 2004.

Addendum: It seems it was great timing to run this piece as 4Corners just ran this one.