The FJG has some advantages that UBI lacks:

  1. Buffer stock of employment, and facilitates transition of the chronically unemployed to the private sector
  2. Can be used toward social ends (infrastructure, beautification, etc)
  3. Is sensitive to economic cycles. FJG utilization would increase during contractions and fall during expansions
  4. The FJG wage would be the new effective minimum wage. In conjunction with 3 and 1, it would also encourage price stability
  5. Alleviates the social ills that accompany unemployment. These are not limited to material wealth but also include community building and sense of purpose/dignity.

As for UBI/FJG being ‘paid for’, I think this is only an issue due to popular misconceptions (both within economics and the general population). MMT has shown this pretty conclusively IMO.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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