Re: Unemployment

[<mosler@xxxxxxxx>]

Scott,

Remember, the alternative to elr jobs is unemployment comp until it runs out, then
either flip burgers if you can, be a housekeeper,
move back with your parents/children, turn to crime, etc.  The alternative to elr, as a point of logic/math/macro economics, is NOT a private sector job (once the elr program has 'settled in').

Furthermore, if the elr pool is 'deemed' too large, a fiscal adjustment is forthcoming to shrink it (additionally, one could pretend to be adjusting it by changing interest rates...).

As for replacing 'regular' govt jobs with elr
workers, operationally that could be done, and
would in fact obviously increase 'efficiency.'
There are those, including many pk's, who think the private sector can 'do better' man for man than the public sector.  They will be expected to be advocating that as many govt workers be elr workers as possible.  With govt hiring off the
'bottom' the 'best' are left to the private sector.  Others will insist that govt needs to hire further up the ladder, and, for example, should probably pay market wages for 'qualified'
judges rather than staff the courts entirely with elr workers.  That's the age old debate on which resources should be moved from private to public domain.  It's a political choice.  And whether Mat, Randy, Bill, or you want one or the other is not the point of 'elr vs
the current options' for the unemployed willing and able to work and contribute.

Could the elr jobs be worse than unemployment?
Sure!  The govt could arm them and turn them loose who knows where.  And if one is cynical enough to fear that, no govt is probably the only choice.  For the rest of us, I doubt govt could
do much worse than allowing today's unemployment,
so I'm in favor of elr on monetary, political,  economic, and, last but not least, moving the world closer to the kind of place I'd prefer to live in.

www.mosler.org





Thankyou Matthew and Sven for some resources in which to study this issue further. I also will delay any response until I have had the opportunity to do some further fact finding and then perhaps continue the discussion in more current terms.

Best regards
Scott Simpson