Organizing for America | John Gelles's Blog: Jobs Jobs Jobs

Jobs Jobs Jobs

By John Gelles - Nov 3rd, 2009 at 5:22 am EST

Also listed in: Academics for Obama | Independents for Obama | Money, Debt and Tax Reform

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In a Nutshell it's full employment that must hold.

We can tolerate insolvency, bankruptcy, even foreclosure sale of precious assets. But loss of job and income is intolerable in the extreme -- and it always does more harm than good.

Jobs must be immediately replaced with income from work -- work for others, for government, or work for yourself in a business that you own.

This should (and therefor shall) require less formality than the current income tax. Everyone will be entitled to practice for one day, every quarter, (preferably on a weekend not a real workday in your life,) doing the work for others, government or yourself, that will protect you if you lose your regular employment. The practice includes receiving related income.

How can any nation afford such an expensive approach to economic stability? Answer: with our old standby: "money spent on purpose" by government. Said money will be saved in indexed savings accounts. It will make up a tiny portion of the new wealth we will find when we switch from mostly debt-backed money to sufficient wealth-backed money.

Think of all that wealth in the form of goods and services that high technology can make certain will be created. If we have the belief and courage to create money to match it in size.

We must try it. If the result is spiraling inflation, we can fix it as we practice it for real.

Why have we not developed approaches like this earlier?

One reason is that we had to wait for our evolved capability to automate supply. Only then could we manufacture demand with impunity.

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