In order to offer work to any job-seeker not currently needed by the private sector, the Canadian government should target job creation at various skill levels, and provide training for the remainder. As economist John Maynard Keynes advised during the Great Depression, “Look after the unemployment, and the Budget will look after itself.”
Footnotes:1. Ben Bernanke, 2002, National Economists Club
Deflation: Making Sure “It” Doesn’t Happen Here
But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost.
2. Keynes quote
From a 1933 radio debate Keynes (bolding added):I do not believe that measures which truly enrich the country will injure the public credit…It is the burden of unemployment and the decline in the national income which are upsetting the Budget.Look after the unemployment, and the Budget will look after itself.
“The benefits of full employment include production of goods, services and income; on-the-job training and skill development; poverty alleviation; community building and social networking; social, political and economic stability; and social multipliers (positive feedbacks and reinforcing dynamics that create a virtuous cycle of socioeconomic benefits). An “employer of last resort” program would restore the government’s lost commitment to full employment in recognition of the fact that the total impact would exceed the sum of the benefits.”