Is the job guarantee a substitute for other fiscal or monetary policies?
No (See questions 11, 12 and 13). The job guarantee is designed to address the problems of unemployment and precarious employment. It is a powerful macroeconomic policy in its own right. It obviates the need to maintain an unemployment buffer stock via fiscal or monetary fine-tuning and replaces it with an employment buffer stock policy.
Other fiscal or monetary policies are required for different policy objectives, such as strategic investments, better income distribution, comprehensive inflation management, and financial stability.
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