Re:A Basic Income Is Smarter Than a Minimum Wage
by imtringued on Monday April 04, 2016 @03:57PM
(#11424983)
The effects of Quantitative Easing can be reversed by the central bank because it's merely an asset swap. It's only a temporary measure.
Re:A Basic Income Is Smarter Than a Minimum Wage
by dv_dt on Monday April 04, 2016 @04:19PM
(#11425209)
It's a temporary measure whose end and efficacy remains unknown. It seems like the QE injection really only affected 'Wall street' with very little of it escaping to cause mainline economic activity.
With all the talk about QE and "helicopter money" over the past 8-9 years, I'm curious why very few have considering the merits of a basic income through inflation.
What if the central bank had a mechanism to fund special "basic income" accounts at banks on a yearly basis... These accounts would not be considered deposits but would rather be a special type of 0-interest loan that is not paid back and doesn't not count against each bank's fractional reserve requirements. Each citizen is able to open 1 of these accounts at a bank that meets the qualifications to participate in the program.
Is there any merit in a basic income through inflation? If we are going to inflate our money by through QE and throwing it out of a helicopter to banks, why not use the same principle and inflate our money by throwing it our a helicopter into the homes of citizens?
special "basic income" accounts