A Minimum Guaranteed Jobs Proposal

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Citation: David Colander (2016/09/28) A Minimum Guaranteed Jobs Proposal. Eastern Economic Journal (RSS)

doi: 10.1057/eej.2016.7

Download: http://link.springer.com/article/10.1057/eej.2016.7

Tagged:


Summary:

Argues that minimum wage and guaranteed minimum income work against the market (disincentive to hire and work, respectively) and will fail in a market economy. Proposes guaranteed minimum job program instead, with an example structuring:

  • government is employer of last resort
  • US$10/hour
  • guaranteed job designed to provide work activities, training, not useful output
  • standard working hours, expectations; participants can be fired
  • eligibility likely limited (eg not students, non-citizens, retirees)
  • roughly estimates 3.4m participants and $90b annual cost

Provides zero references.

Theoretical and practical relevance:

Comments starting at http://marginalrevolution.com/marginalrevolution/2016/10/sunday-assorted-links-86.html#comment-159514975