Economist John Miller of Wheaton College wrote a sharp critique this week of my work on the job guarantee. I was pleased to see it. In nearly five months, Miller is the first economist on the left to respond on the basis of economics rather than retreating to blanket declarations that job-guarantee opponents are either nefarious or uninformed.
A federal job guarantee would be monumentally expensive, return only limited value from the participants’ work, entail administrative challenges nearly impossible to solve, and be potentially disastrous for economic growth and the private labor market.
The federal jobs guarantee, as spelled out in Democratic policy circles, would arguably be the largest public intervention in the economy in American history.
Is the American economy’s creation of fewer traditional full-time jobs a sign of weakness, or just changing times?