The Possibility of a Job Guarantee

• As currency issuer, monetarily sovereign government can purchase any unutilized human or natural resource

  • ... available for sale in its currency

• Monetarily sovereign government is monopoly issuer of that currency

  • Monopolies have price-setting power

  • So monetarily sovereign government can set the "price" of its currency

  • But what is the "price" of the unit of account?

• People who are unemployed are unutilized human resource

  • The government can set the price at which it purchases that resource (labor-power) ...

  • ... and make an offer to purchase any amount at that price