Finlandiako experimentua
Free money makes people happy! Basic income improves people’s mental well-being but is ‘unsustainable’, Finnish trial finds
Finland put €20million (£18million) towards a two-year trial of a basic income – but prime minister Sanna Marin (pictured) does not plan to introduce one
What a shame! Warren Mosler said in a recent tweet that if money is created at the central bank to pay for a Basic Income1 it could work, but your playing with fire2. With MMT, he says, money creation is tied to the Job Guarantee3.
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Ikus ondokoa: Lan bermea DTM-ren egituran, eta bertan Warren Mosler-ek dioena:
Iruzkina:
warren mosler
Hi Bill,
Nice to see this quote from Randy:“I have long been interested in govt as employer of last resort because this was something advocated by Minsky (eg in his 1986 book). However, in Minsky it always seemed a bit utopian; there were a few gaps in the argument. When I saw Warren’s paper, however, he seemed to provide a way to fill the gaps.”
And the critical understandings that fills these ‘gaps’ includes ‘sequencing’ (gov spends first and only then can taxes be paid and bonds etc. purchased) which obviates ‘solvency/sustainablility’ type issues, and that the mainstream has had ‘the interest rate thing’ backwards which reverses notions of monetary policy.
Best!
Warren
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An experiment with ‘free money’ in Finland made people happier but did not improve employment levels and would be ‘unsustainable’, a study has found.
Participants in the Finnish study ‘were more satisfied with their lives and experienced less mental strain, depression, sadness and loneliness,’ researchers said.
But the Finnish study found that the handout led to people being employed for only six more days over a one-year period.
Daily Mail
UBI eta JG (Warren Mosler)
https://twitter.com/wbmosler/status/1245392459556745217
Warren B. Mosler #MMT@wbmosler
eta 5beste erabiltzaileei erantzuten
Not to forget the interest income channels. That is, a positive policy rate is basic income for people who already have money…
MMT White Paper – The Center of the Universe
Click Here for the White Paper on Modern Money Theory Italian Version
2020 api. 1
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https://twitter.com/wbmosler/status/1249847660800094208
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erabiltzaileei erantzuten
The goal is to replace today’s buffer stock (unemployement) with a better one (job guarantee).
2020 api. 14
Warren B. Mosler #MMT@wbmosler
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erabiltzaileei erantzuten
The goal is to promote the transition from unemployment to private sector employment.
2020 api. 14
https://twitter.com/wbmosler/status/1250748085405454336
Warren B. Mosler #MMT@wbmosler
$s to pay taxes originate only from the state or its agents, so value is a function of what you have to do (at the margin) to get them. With JG marginal cost is your time. With UBI it’s 0.
2020 api. 16
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https://twitter.com/wbmosler/status/1250739554916720640
Warren B. Mosler #MMT@wbmosler
I’m not categorically against universal basic income, but it is a case of playing with fire:
The coronavirus crisis could pave the way to universal basic income
2020 api. 16
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https://twitter.com/wbmosler/status/1250805506731642880
Warren B. Mosler #MMT@wbmosler
eta 16beste erabiltzaileei erantzuten
JG functions first to facilitate the transition from unemployment (necessarily caused by gov. tax liabilities, by design) to private sector employment. You are against that???
2020 api. 16
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https://twitter.com/wbmosler/status/1251205674215845889
Warren B. Mosler #MMT@wbmosler
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erabiltzaileei erantzuten
Think macro. You impose a tax, for example on everyone’s house creating a need for $ to pay the tax. Then you give them enough $UBI to pay the tax. No more need= no value.
2020 api. 17
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https://twitter.com/wbmosler/status/1251216411034255366
Warren B. Mosler #MMT@wbmosler
eta 16beste erabiltzaileei erantzuten
At the macro level gov is a net payer of interest to the economy. Call it basic income for people who have money. And the larger the public debt the larger the effect.
2020 api. 17
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https://twitter.com/wbmosler/status/1251931021626441731
Warren B. Mosler #MMT@wbmosler
eta 17beste erabiltzaileei erantzuten
It’s not my first choice, as I consider rate hikes as basic income for people who already have money. I prefer fiscal adjustments and regulatory adjustments, etc.
2020 api. 19
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https://twitter.com/wbmosler/status/1256977855864586245
Warren B. Mosler #MMT@wbmosler
eta
erabiltzaileei erantzuten
A positive policy rate of interest is the gift, whether paid via bonds by the Tsy or via interest on reserves by the Fed. I call it basic income for people who already have money.
2020 mai. 3
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https://twitter.com/wbmosler/status/1246546781288226816
Warren B. Mosler #MMT@wbmosler
eta 3beste erabiltzaileei erantzuten
JG facilitates the process of the state provisioning itself, while UBI can pose a threat to state provisioning.
2020 api. 4
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Auto-zuzenketa:
https://twitter.com/wbmosler/status/1256896778391207936
Warren B. Mosler #MMT@wbmosler
eta 14beste erabiltzaileei erantzuten
Close examination shows the gov spends first and then booties at its politically determined interest rate.
Mosler Copy of MMT White Paper
2020 api. 16
Warren B. Mosler #MMT@wbmosler
eta 15beste erabiltzaileei erantzuten
Autocorrect error. Should be: Close examination shows the gov spends first and then borrows at its politically determined interest rate.
2020 mai. 3
Gehigarriak
Errenta unibertsala? Ez, lan unibertsala!
Basic income ala job guarantee? Oinarrizko errenta ala lan bermea?
Errenta unibertsala: noizean behin zapatak garbitu behar
Errenta unibertsala edo oinarrizko errenta = lapurreta
Oinarrizko errenta unibertsala (OEU) eta aberatsen OEU-ren defentsa sutsua
Silicon Valley eta oinarrizko errenta unibertsala
Lanpostuak, ez oinarrizko errenta unibertsala (OEU)
Oinarrizko errenta unibertsala? Ez mila esker!
Job guarantee, aka, lan bermea versus oinarrizko errenta unibertsala
