Warren Mosler speaks at PK conference, Parts I-IV
Posted by WARREN MOSLER on July 14th, 2008
Warren B speaks at lunch time during an economic conference.
Completely unedited.
Warren Mosler speaks at PK conference, Part I
Warren Mosler speaks at PK conference, Part II
Warren Mosler speaks at PK conference, Part III
Warren Mosler speaks at PK conference, Part IV
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July 14th, 2008 at 3:15 pm
Great presentation for the ELR.
The Argentina decision to discontinue the ELR should be analyzed. It seems there is a strong political contingent against monetary transfers (fiscal grants) to the unemployed. Likely the Argentine experiment failed due to political non-participation (why?) by the unemployed parties that benefited from the policy. Connected political participants resent the ‘easy’ access provided to those that are ‘unwilling’ (unable?) to participate in the political process.
I’ve proposed replacing government ‘grants’ with government ‘loans’. For instance, there is much less political resistance to student loans than there is to student grants. The battle for acceptance of fiscal solvency as a nonissue is an important step for both options.
Past and present financial crises are case studies of the political acceptability of funneling government resources through loans rather than grants.
Point - which is more likely to be achievable?
To find the political support to create government grants to target the unemployed worker?
To find the political support to create government loans to target the unemployed entrepreneur?
Yes, we already have banks to create loans but we also already have government spending to create grants. Neither works very well for the nonpolitical, unemployed.
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July 15th, 2008 at 1:14 am
The theorists can certainly tangle things up a bit! Thank you for making these issues more palatable (and keeping the topic on ‘actionable’).
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July 15th, 2008 at 2:15 am
Excellent videos. Sorry I had to leave before that, but glad I get to see what I missed!
By the way, Tom missed the point. You said very clearly that ELR “with a non-disruptive wage” is what we’re talking about. His SA rising inflation scenario assumed the wage would be set such that agg demand would outpace productive capacity. We’ve always argued that if you set the ELR wage too high you would get inflation–so . . . beyond changing the paradigm, we also need economists to LISTEN more carefully so they don’t misinterpret our proposals.
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July 15th, 2008 at 7:09 am
right, thanks!
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April 17th, 2009 at 2:33 am
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