2 Jun 2020 6:22 am
...thanks for this...this is the most thoughtful response i can remember receiving in my years of internet monetary preaching... ...you have provided so much food for thought I will not hunger for topic$ for a long time!..Polar1ty » 30 May 2020, 11:16 pm » wrote: ↑ I'd prefer just giving everyone (adults, citizens over 18+) newly minted money as a direct check. It's very efficient, equitable, requires almost no resources to execute (even for 300M+ people due to modern technology), etc.
Keep inflation as close to 0% as possible. If there is an economic downturn, can give more. If economy is growing, can give less.
Obviously if the government NEEDS to spend on infrastructure like sewer pipes, electric lines, etc., I'd be for that as well.
There are 2 reasons I'm NOT as enthusiastic about "spending the money into existence" (which was mentioned in at least one or two of the videos you've posted)
1) A lot of social democrats/leftists like Bernie Sanders will very likely abuse the system, and spend the money in a haphazardly wasteful manner. While I am NOT a "libertarian," I understand the government should make some minor tweaks to the economy instead of trying to direct it altogether.
2) If "the government" decides to "spend" the money into existence, you actually run into a very similar problem as when the BANKERS were allowed to print money - namely, which groups or "corporations" get the funds to fulfill government projects and contracts?
After all, the government often outsources its projects. So allowing the government to "spend" [X] amount into existence, and [X] flows into the pockets of private corporations...you can see how this can create many problems, right?
That invites many possibilities of CORRUPTION and NEPOTISM. Something to keep in mind.
...i will merely scratch the surface today... I believe in an 'egalitarian' $ystem where everyone receives any newly-created money 'pro-rata'.. [i believe the term 'newly minted' connotes metallic money https://en.wikipedia.org/wiki/Mint_(facility) ...i believe a metallic money system is a very very bad idea..] ...parents would oversee the money for their children until some arbitrary age...i'll let others fight over that age...
...as to 'keeping inflation at/close to 0%', i assume you mean 'price inflation' unless you plan to tax all newly-created/issued money back and then destroy it?...
...i will think and write much more later...thanks...