Commented Roger Lewis MAR 10, 2017
The first experiment of this nature was Mincome in Canada in the seventies. It was a great success. https://en.wikipedia.org/wiki/Mincome
With respect to financing UBI, the point is that Money can be distributive at the point of creation and in the case of UBI should be.
We can learn a lot from the Swiss referendum on Citizens Income as discussed here.
´However, the nearly universal misunderstanding of money is a major obstacle. For too long we’ve allowed a small coterie of bankers and “court economists” to hold the secrets and “tutor” us. So, it’s time for total openness.
First, regarding the claim that the Swiss proposal would’ve been too costly, what’s entirely omitted from the discussion is that the proposal (and similar proposals elsewhere) appear to call for re-distribution of existing money—taking money from certain sectors through taxation and re-allocating it to the people-at-large.
The implication is that the money supply is basically static and that re-distributing limited funds would require tough budget decisions—sparking tax hikes and associated spending increases in several areas; hence the claim “costs too much.”
But a successful basic income plan can and must be based on the creation of new money, or “distributism,” not on reshuffling existing money, which is “re-distributism.” That’s the “state secret” that no one wants to touch.´´http://leconomistamascherato.blogspot.se/…/basic-income-let…
I had a dialogue with Clive Lord a Founder member of the Green Party of England and Wales last year. The authors of this article could no much worse than re-visit their monetary Theory and Monetary History.
”The value of goods,
expressed in money, is called “prices,” while the value of money, expressed in goods, is
called “value.” p.49 (Commercial Capitalism) Quiqqley shows how Bankers make the distinction and real power lays in the Value of money and not the prices of goods.
on how debt and credit creation effects aggregate demand is summed up in this argument. In my poem, this is the not even wrong part.
”A counterfeit Nobel laureate, there’s an irony.
Denies that in money there can be a place that Gertrude stein called there, home once but no longer there, there in Oakland. A precursor to some sub prime heritage.
A speaker of truth to power could follow Pauli ´Das ist nicht nur nicht richtig, es is nicht einmal falsh!
”Not even wrong, not even there.
All counterfeit, yet to counterfeit the counterfeit? a crime.
What of the shepherd of this unruly nothing,
where will they pen and fence this pack of wolves?
Will they dress this pack of cards in sheep’s clothing.
Limit the herd a need for Golden standards.
Prudence of sound Money and even sounder usury.
Fix the price and patronise those who will honour the thievery. A mechanism to harmonise silent ballot boxes.
A gentleman from Belgium would complement his single currency. Unruled and unruly sets a course for austerity on a continent many times at war. A fight of 11 rounds.
Spread like a cancer through the development of continents, enabling the killing called wars. That increase the debt and centralise the money power.
Quiggly shewed the tragedy, little hope it seemed,
blind faith in capitalisms harlot. That Babylonian whore.
At first a mere money trick for ragged trousered philanthropy. With usury, take away whats not even yet been paid. Ruskin would see wealth as that which is valuable in the hands of the valiant. Real goods sustain and wealth succours. Usurious money is but an unmade claim and worse. No banker has earned that newly minted note that hangs discordant in the air, as apt to rob as to pay.
How obscure this obscurant cult of mammon.
What smoke screened hall of mirrors.
How obese and gluttonous the leviathan of usury.
Austerity for the likes of you and I.
More banqueting and evacuated vomit spews from the sceptred top table. Corrupt in patronage and jealousy of power. Overstuffed with greed and thirsty for more.”