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The Job Guarantee: Delivering the Benefits That Basic Income Only Promises – A Response to Guy Standing

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  • Tcherneva Pavlina R.

    (Department of Economics, Bard College, Annandale-on-Hudson New York, NY 12504, USA)

Abstract

The present article offers three critiques of the universal basic income guarantee (BIG) proposal discussed by Standing in this volume. First, there is a fundamental tension between the way income in a monetary production economy is generated, the manner in which BIG wishes to redistribute it, and the subsequent negative impact of this redistribution on the process of income generation itself. The BIG policy is dependent for its existence on the very system it wishes to undermine. Second, the macroeconomic effects of BIG on contemporary economies that use modern money are destabilizing. The job guarantee (JG), by contrast, stabilizes both the macro-economy and the currency while helping transform the nature of work itself. Finally, the employment safety-net in Standing’s piece is not an accurate representation of the modern JG proposals – a confusion which this paper aims to remedy.

Suggested Citation

  • Tcherneva Pavlina R., 2012. "The Job Guarantee: Delivering the Benefits That Basic Income Only Promises – A Response to Guy Standing," Basic Income Studies, De Gruyter, vol. 7(2), pages 66-87, January.
    • Handle: RePEc:bpj:bistud:v:7:y:2012:i:2:p:66-87:n:5
    DOI: 10.1515/bis-2013-0010
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    References listed on IDEAS

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    1. repec:osf:osfxxx:bre43_v1 is not listed on IDEAS
    2. Mumbunan, Sonny & Maitri, Ni Made Rahayu, 2022. "A Review of Basic Income for Nature and Climate," OSF Preprints bre43, Center for Open Science.
    3. Esteban Cruz-Hidalgo & Dirk H. Ehnts & Pavlina R. Tcherneva, 2019. "Completing the euro: The euro treasury and the job guarantee," Revista de Economia Critica, Asociacion de Economia Critica, vol. 27, pages 100-111.
    4. Pavlina R. Tcherneva, 2019. "The High Costs of UBI are Not Financial: They are Real," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(2), pages 327-330, April.
    5. Thomas Alan, 2020. "Full Employment, Unconditional Basic Income and the Keynesian Critique of Rentier Capitalism," Basic Income Studies, De Gruyter, vol. 15(1), pages 1-38, June.

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