What are the Marxian implications of such a guaranteed-job program?

Hi Richard. I've been reading a lot lately from Stephanie Kelton, Warren Mossler, Randal Wray, Bill Mitchell, etc, about Modern Monetary Theory, and I think it's fascinating. However, one policy they advocate for consistently is a "Job Guarantee," whereby the government would offer a job to anybody who was ready, willing, and able to work, at a basic living wage. Macroeconomic claims that this would create full employment and price stability aside, I'm wondering: what are the Marxian implications of such a program? Can a program like that be structured in a way consistent with workers distributing their own surplus? (Also, do you have any other thoughts about MMT?) Thank you!

Showing 1 reaction

How would you tag this suggestion?
Please check your e-mail for a link to activate your account.
  • Sam Levey
    published this page in Ask Prof. Wolff 2016-07-15 05:27:41 -0400