MMT's Job Guarantee Explained
Unemployment happens when the government doesn't provide enough jobs for everyone who needs one because of the taxes it charges. Right now, the government uses unemployment to help keep prices stable.
The Job Guarantee is a new idea to help fix this problem:
Instead of using unemployment to control prices, the government would create jobs for everyone who wants to work.
The government would pay a fixed wage for these jobs, which would help set the value of money.
This plan would help fight inflation (rising prices) better than the current system because it makes it easier for people to move from government jobs to private sector jobs.
Employers are more likely to hire people who already have jobs, so this would help people find work in the private sector.
The Job Guarantee also helps make sure everyone has a job and sets a minimum level of pay and benefits for all workers.
In summary, the Job Guarantee is a proposal to create jobs for everyone who wants to work, helping to fight inflation and improve employment opportunities.