Category Archives: Pavlina R. Tcherneva

Romney: The Little People Don’t Pay Taxes

By L. Randall Wray & Pavlina R. Tcherneva
(Cross posted at Huffington Post)

Everyone recalls the quip by Leona Helmsley: “We don’t pay taxes. Only the little people pay taxes…”. By “we”, of course, she meant the likes of Mitt Romney. By little people, she meant Romney’s 47% – those not worth the bother. As President, the Mitt made clear, he will not be serving them.

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Economists for Romney: a closer look

By Pavlina R. Tcherneva

Presidential hopeful Mitt Romney boasts support from the scientific community for his supply-side trickle-down economic proposal. It is outlined here, along with the list of economists endorsing the plan.

Several Nobel Prize winners grace the top of the list. Here is a quick look at some of these luminaries and their contributions to some of the most pressing problems of our time. Continue reading

The Job Guarantee is Not Workfare

By Pavlina R. Tcherneva

For a couple of years Ralph Musgrave has been arguing that the Job Guarantee provides jobs that are essentially the same as those in the private sector with the same kinds of inflationary effects. For this reason, he has been treating the JG a simple job subsidy with a training component, similar to various active labor market policies (ALMP) around the world.

Alternative Fiscal Policies: Why the Job Guarantee is Superior (Wonkish)

By Pavlina R. Tcherneva

A few weeks ago I called for a technocratic debate on the merits of the JG, relative to other fiscal policies. A number of bloggers took the charge but the debate was not immune to ideological biases, which proved the starting point of my piece that one cannot separate fact from theory or ideology (and by ideology I do not mean the derogatory use of the word, but that which signifies ‘ontology’ or a ‘world view’). What I didn’t expect is for friends and sympathizers to resurrect one particularly invidious charge we have long heard from MMT deniers, namely that MMT is pushing authoritarian policies.

Oh, boy. How did we even get here? I thought this was going to be a technocratic debate.

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Pavlina Tcherneva – Bottom Up Fiscal Policy: Direct Employment of the Unemployed

What’s MMT About Anyway and is the Job Guarantee Crucial to the Project?

This post is primarily addressed to the MMTcommunity and whoever considers himself/herself a follower of Modern MonetaryTheory.  It deals with the question ofwhat is in the purview of MMT.
A number of MMT supporters from the blogosphere haveargued that MMT has a descriptive and prescriptive part and, more recently, thatthe Job Guarantee program (JG) falls in the category of prescriptions and that itis not as essential to the MMT project as the description of the operationalrealities of modern economies.

Pavlina Tcherneva on at Issue with Ben Merens

Beyond Pump Priming

“There is no question that this economyneeds more demand. But if we want to short-circuit the forces driving long-term unemployment and unequally shared prosperity, we need to go beyond pump priming.”

Pavlina Tcherneva on At Issue with Ben Merens

Ben Merens, of Wisconsin Public Radio’s At Issue, hosts Pavlina Tcherneva on how to address unemployment.  Listen here.

How I tracked down The Market

By Dr. Gal Noir*
I have been working as an undercover investigator of hijackedeconomic truths for many years. It doesn’t pay much, I work long hours, but Isleep well at night. It is the nagging questions that help me get up in themorning and do what I do. What is the economy for? Where has the middle classgone? Why have manufacturing jobs fled the US? Why is CEO-to-worker pay ratio471:1 in the US, while it is only 20:1 in Canada?  Why haven’t we wiped out unemployment once andfor all? No, really. Permanently! Why do we have child hunger, mass poverty,and stunning income inequality in the richest country in the world? Andeverywhere I turn, I keep getting the same answers: “Because The Market said so! Because this is how The Market works. Because these are thelaws of The Market.”