I don’t have any necessary objection to the concept of a job guarantee for people who might find work for pay necessary for them to have purpose in life, however, life presents many possible constructive purposeful activities and from a mental health standpoint helping others to understand this and assisting them in finding such purpose(s) is probably more important than merely providing some relatively (or utterly) purposeless employment.
So a Purpose Guarantee is actually a lot more important than a JG in this sense.
The most basic purpose of the productive system is not employment, but rather the consumption of what is produced. All other economic purposes including both employment and profit proceed from this most basic purpose and both employment and profit can fit seamlessly within it much more equitably and freeflowingly if we would simply guarantee the individual sufficiently abundant income to purchase production and all of its costs with a universal income guarantee, and then also implemented a discount to retail prices that not only ended any inflation, but could actually effect price deflation without harming any enterprise (Other than to the hiding in plain sight monopolistic and problematic business model of Finance, and then it wouldn’t harm it….just de-throne, de-tooth and downsize it so it would take its proper and smaller place alongside the other business models in the economy.)
Cost rules every enterprise in the micro-economy, and because of depreciation, a host of other additional costs over and above the costs of finance and time lags inevitable in the physical universe the flow of total costs always exceeds the flow of total individual incomes distributed. Thus cost and the inherently cost inflationary nature of the economic system should be a dynamic factor considered in macro-economics. The missing of this reality by economists and the failure to fully address both it and the increasingly disruptive factor of artificial intelligence’s erosive effects on aggregate demand is the primary failure of macro-economic policy. If a sufficiently abundant income supplement and discount program were implemented the rest of investment and the drive for efficiency of cost by competition, innovation and artificial intelligence would largely be able to proceed with a minimum of intrusion save a firm commitment to breaking up the oligopolistic tendencies of corporations with global reach, and that could largely be dealt with by re-industrialization of advanced economies and the consequent decentralization of the global economy….because the dependence upon employment as the primary means of finance will have been broken by the universal dividend and a retail discount policies.
The way to implement a BIG or a dividend is to include/”sell” the compensated/rebated back to retail merchants mechanism right along with it. The retail merchant at the terminal end of the productive/economic cycle Gifts the consumer a discount and the central bank rebates every cent of those discounts back to the merchants. The only thing that occurs is the market for consumer finance gets downsized. Also, that way businesses are not punished by the even higher taxes associated with re-distributive programs. Make the dividend big enough and the discount percentage to prices to the consumer large enough and you will be able to quickly accomplish more of both the liberal and conservative agendas….than either of these hapless political parties has been able to do….by being hypnotized by the idiocies and delusions of DSGE and the 5000 year old problematic business model of Finance. The direct distributive and Gifting paradigms offer us a way out of this hypnotization and enslavement, and a way home to individual self determined purpose. It’s a proactively win-win situation for the individual and businesses, and the too big to fail banks get downsized from their current monopolistic, dominating and manipulative position….poor things. 😦 How godawfully mean of me to suggest such a thing. Maybe I should chastise myself. Well, maybe not considering how much more freedom would be accomplished.