Brad DeLong: "Job Guarantee" vs. "Functional Finance":
Job Guarantee: "Our policy is for the government to run a deficit to offer low-quality make-work low-pay jobs that suck"
Functional Finance: "Our policy is for the government to run a deficit so that the labor market is in balance with employers getting the most value for their money possible and workers getting the most money for their time and energy possible with unemployment reduced to a 'frictional' level'
Job Guarantee is really stupid on many levels. Functional Finance is really smart. Put me down for Functional Finance, Alex, and make it a true daily double...