> The current method of injection of money into the economy via debt is broken, benefits mostly banks, and requires that a percentage of people continually go bankrupt due to lack of available cash in the future.
Sorry where did you come up with this? The CB can buy any asset with newly created money, this includes bonds. How does this in any way require a percentage of people going bankrupt?
If you really belive that the amount of cash in the economy is bound to goverment dept and that leads to a lack of cash I would strongly suggest you pick up a book on montary theory because that makes absolutly no sence.
> Basic income is an alternative means of monetary expansion that would fix this.
Have you even read what I wrote?
> Not that you have to inflate with basic income, you could simply redistribute wealth. But that requires people decide who takes how much from whom, and is ripe for favoritism. Inflating via basic income is the most egalitarian method I can think of.
Again. Have you actually read why montary transmission is not done in a direct the people way? Its not like you came up with something new, the idea was around but its simply not workable because its a one way transmission. Its like you are saying that if a ship has to turn to the left its okay to have steering wheel that can never steer to the right. What happens if you steere to the left to much for a time, what if you have strong current from the right (witch in this analogy would mean for example a change in money demand).
If you really want BI, and to it in a natural way. Make one basic tax, flat or prgressiv does not really matter as long as it is one clear function and stop any exeption people can take (alternative is a consumtion tax that applies equally to everything), and set a number of BI you want to pay out.
Montary policy should just be conducted in the usual way to hit its target, your big error is to assume that if the central bank has a 2% inflation target it has to print money, look at australia they have relativly high inflation but the montary base is very low. The market ajusts to your target and if you have a credible target you dont actually have to print any money.
Sorry where did you come up with this? The CB can buy any asset with newly created money, this includes bonds. How does this in any way require a percentage of people going bankrupt?
If you really belive that the amount of cash in the economy is bound to goverment dept and that leads to a lack of cash I would strongly suggest you pick up a book on montary theory because that makes absolutly no sence.
> Basic income is an alternative means of monetary expansion that would fix this.
Have you even read what I wrote?
> Not that you have to inflate with basic income, you could simply redistribute wealth. But that requires people decide who takes how much from whom, and is ripe for favoritism. Inflating via basic income is the most egalitarian method I can think of.
Again. Have you actually read why montary transmission is not done in a direct the people way? Its not like you came up with something new, the idea was around but its simply not workable because its a one way transmission. Its like you are saying that if a ship has to turn to the left its okay to have steering wheel that can never steer to the right. What happens if you steere to the left to much for a time, what if you have strong current from the right (witch in this analogy would mean for example a change in money demand).
If you really want BI, and to it in a natural way. Make one basic tax, flat or prgressiv does not really matter as long as it is one clear function and stop any exeption people can take (alternative is a consumtion tax that applies equally to everything), and set a number of BI you want to pay out.
Montary policy should just be conducted in the usual way to hit its target, your big error is to assume that if the central bank has a 2% inflation target it has to print money, look at australia they have relativly high inflation but the montary base is very low. The market ajusts to your target and if you have a credible target you dont actually have to print any money.