Economist Pavlina R. Tcherneva, author of “The Case for a Job Guarantee.”(Polity Books) Economist Pavlina R. Tcherneva, author of “The Case for a Job Guarantee.” Economic orthodoxy has been shaken by events of the last decade, with new enthusiasm for the old idea that states should spend freely during tough times. The 2008 crisis and this year’s CARES Act are powerful counterexamples to the idea that government spending drives inflation. We’ve seen that when the public sector spends money on things the private sector doesn’t want (say, the labor of 30 million people ), it doesn’t bid up prices.
Economist […]
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