Another approach would be a “democratically distributed income” (DDI). It would not be paid to everyone, but it could potentially be accessed by every adult citizen. The money for the DDI would be created as needed, so it would be free. The total of the DDI would form the supply of money for the economy. The same process could be used to fund government (all government, from central to local). The existing economy would become self-regulating, with no unemployment, poverty, taxes, or public debt and increased sustainability — all absolutely, positively guaranteed. (Re. limiting the DDI to citizens: any nation could adopt this monetary paradigm, with the same guaranteed results.

I am the author of this idea; if it matters, I do have an M.A. in economics. If curious, “A Truly Great Idea,” published in Data Driven Investor here in Medium, is a good place to start. Links for further reading are provided at the end of that (brief) article.