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Daniel Tsai, Lecturer in Business and Law, Toronto Metropolitan University

Why a universal job guarantee beats the basic income pipe dream

In theory, a universal job guarantee could help stabilize inflation by providing stable, full-time employment, addressing unemployment, enhancing economic productivity and reinforcing price stability. (Shutterstock)

With the current cost-of-living crisis resulting in dramatic inflation, higher interest rates and a looming recession, people have been searching for solutions to the economic crisis. A universal job guarantee may just be the answer we’re looking for, especially since Canada lost 43,000 jobs in June.

While most people are familiar with the idea of a universal basic income — the notion of giving every citizen a basic income, irrespective of their income level or need — few are familiar with the idea of a universal job guarantee.

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