For Crying Out Loud, Accept That A Solution Actually Exists
[Revised, with an expanded description of the solution, April 24, 2020.]
This is a solution for all the societal ills associated with the existing economy. Skepticism is expected, but cynicism is an intellectual cul de sac.
My studies have taught me that the solution is to apply the ‘democratic distributive principle’ that underlies the distribution of political rights in democracy to money. That could be achieved by establishing a “democratically distributed income” (DDI). [If it matters, I do have an M.A. in economics; my Thesis was in political economy.]
The guaranteed outcomes for society for doing that turn out to be astonishing. There would be no unemployment or poverty (at no cost to anyone, without having to redistribute anything), with still no limit on income or wealth.
The money for that income would be free. It would be created as needed. The total of that income would become the supply of money (as currency) for the economy.
Like, say, the right to vote, that income would not be available for every citizen, but it would be available for an unlimited number of people. Any (adult) citizen could become eligible for it. (Any nation could adopt this paradigm, with the same outcomes.) “Eligible” would include retirees and adults unable to work due to incapacity (permanent or temporary, as in sickness or injury) or natural disaster (such as hurricane or tornado or epidemic/pandemic) or man-made disaster, such as war.
In short, the DDI would be a guaranteed minimum income for every adult citizen. The amount of the income would be based on the current median income. So in the U.S. it would be, say, $15/hr.; $600/wk.; $2,600/mo.
To prevent inflation, this paradigm does require returning money to its point of origin. Individuals and businesses would be able to retain plenty of money, however (based on income), and no money would be collected from any individual or business before it could be used for purchases or investment. The supply of money and the economy as a whole would be completely self-regulating (except for natural disasters and such).
The same process could be used to fund government (all government, from central to local), at the current per capita level of total government spending, forever. So there could be no taxes or public debt at any level of government.
- the existing economy completely stable and fully self-regulating (with built-in safeguards against inflation)
- an absolutely, positively, guaranteed, bulletproof income for adult citizens that would not involve taxes or debt, to be based on the current median income (so in the U.S., say, $15/hr.; $600/wk.; $31,200/yr.)
- no unemployment (at no cost to anyone)
- no poverty (without having to redistribute anything)
- no taxes (of any kind)
- no public debt (at any level of government)
- more sustainability (even without additional regulations or any changes in behavior because demographics would govern output — passively)
- all with no limit on income/wealth.
A DDI can be implemented with, in the U.S., a single Act of Congress. So call your Representative in Congress — today! In other Nations, call your MP.
Endorse the idea on every platform you can. (Assessing its validity and feasibility has been my job — which my studies equipped me to do.)
Go out in the street and yell, “A solution exists!
Tell a friend.
for those who think justice — or sustainability — requires more than the above: “A Fully Just Economy”
for everyone else (all here in Medium):
a brief (“5 min read”) summary of the paradigm: “How to Transform the Society of any Nation”
the fastest, simplest way to implement it: “A Call for a (Further) Central Bank Revolution”
implementing it via a new Monetary Agency: “A Cure for the Ills of Capitalism”
the derivation of the idea: “A Truly Great Idea” (published in Data Driven Investor)
other: “Re-thinking the Economy’s ‘Fuel System’ to Avert the Collapse of Civilization” (published in Dialogue & Discourse)
the fullest explication of the paradigm: www.ajustsolution.com (Page: real justice /economy)