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95

The Economic Arguments

2
terms
2
notes

Standing, G. (2017). The Economic Arguments. In Standing, G. Basic Income: And How We Can Make It Happen. Pelican, pp. 95-108

102

[...] had the UK's £375 billion of QE been diverted to pay a basic income, everyone legally resident in Britain could have received £50 a week for two years. Instead, QE has enriched the financiers, worsened income inequality and hastened the alarming oncoming crisis of underfunded pension schemes.

or use the money to fund basic goods (would probably be less wasteful)

—p.102 by Guy Standing 3 years, 1 month ago

[...] had the UK's £375 billion of QE been diverted to pay a basic income, everyone legally resident in Britain could have received £50 a week for two years. Instead, QE has enriched the financiers, worsened income inequality and hastened the alarming oncoming crisis of underfunded pension schemes.

or use the money to fund basic goods (would probably be less wasteful)

—p.102 by Guy Standing 3 years, 1 month ago

a tool of unconventional monetary policy that has been proposed as an alternative to quantitative easing when interest rates are close to zero and the economy remains weak or enters recession; popularised by Milton Friedman in the form of dropping money on the ground (from a helicopter), though he didn't intend it as an actual policy

102

The idea of giving money directly to people to boost growth was put forward in a famous 1969 article by Milton Friedman, who used the parable of scattering dollar bills from a helicopter for the public to pick up. 'Helicopter money'--printing money to distribute to the public--has been proposed by American bond investor Bill Gross and by the economics journalist Martin Wolf, among others.

—p.102 by Guy Standing
notable
3 years, 1 month ago

The idea of giving money directly to people to boost growth was put forward in a famous 1969 article by Milton Friedman, who used the parable of scattering dollar bills from a helicopter for the public to pick up. 'Helicopter money'--printing money to distribute to the public--has been proposed by American bond investor Bill Gross and by the economics journalist Martin Wolf, among others.

—p.102 by Guy Standing
notable
3 years, 1 month ago

calmness and composure, especially in a difficult situation

103

A libertarian might regard that quasi-Darwinian prospect with equanimity; the rest of us might not.

on the likely result of 'helicopter money': the swift and the strong get most of it

—p.103 by Guy Standing
notable
3 years, 1 month ago

A libertarian might regard that quasi-Darwinian prospect with equanimity; the rest of us might not.

on the likely result of 'helicopter money': the swift and the strong get most of it

—p.103 by Guy Standing
notable
3 years, 1 month ago
107

[...] This could be the first technological revolution that is generating more work, even though it is disrupting and replacing paid labour. But it is contributing to the growing inequality of income. Tim Berners-Lee, inventor of the World Wide Web, says he supports basic income as a tool for correcting massive inequality brought about by technology. [...]

might be worth quoting, idk. Source: Economist podcast, May 27, 'The Economist asks: Can the open web survive?'

—p.107 by Guy Standing 3 years, 1 month ago

[...] This could be the first technological revolution that is generating more work, even though it is disrupting and replacing paid labour. But it is contributing to the growing inequality of income. Tim Berners-Lee, inventor of the World Wide Web, says he supports basic income as a tool for correcting massive inequality brought about by technology. [...]

might be worth quoting, idk. Source: Economist podcast, May 27, 'The Economist asks: Can the open web survive?'

—p.107 by Guy Standing 3 years, 1 month ago