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good to see my former treasury team mate steven hamilton second the wsw's recommendation for unemployment insurance.
in my scheme i made it a bit more clear than it was a secondary priority after a large increase in the rate of the basic payment. https://twitter.com/SHamiltonian/status/1359033247120826370
in my scheme i made it a bit more clear than it was a secondary priority after a large increase in the rate of the basic payment. https://twitter.com/SHamiltonian/status/1359033247120826370
this sort of income insurance is an important service that only the government can provide efficiently. it can help people take risks and make financial commitments without facing imminent catastrophe with one hitch. it can tie people over so families don't lose their house
it also means people aren't desperately rushing to take the very first job offered to them, which may be a bad fit for their skills and attributes - not good for the economy, society or the individual.
from a left wing perspective, this insurance is a good service for workers as it makes them at little less captured by the boss. it reduces what kalecki described as the disciplinary role of the sack. they are more protected from losses in the event of a labour conflict.
it should be conceived as a benefit to workers - just as we have sick leave, maternity leave as time limited benefits linked to wages, there's a role for insurance against unemployment for workers based on a similar philosophy.
this is a bit of a different purpose to the flat rate time unlimited benefit, which is about providing a min acceptable standard of living in society (and i believe this should be above poverty).
like the best welfare states in the world (the nordics), we can and should do both!
like the best welfare states in the world (the nordics), we can and should do both!
