Merry ChristmasGenuine question, if not global capitalism, then what, what would be the better economic model for the World to take up?
Please excuse my curious mind .
KevinOnEarth@lyndamerry484 No one system is either 100% good or 100% bad. If the best was taken out of each & the worst eliminated, many of them would begin to resemble each other.
I don't think #Capitalism per se is bad; it's the reckless way it is left to its wealthiest proponents to make its rules, in their own (tiny) minority interest.
Putting it simply, I'd like to see "#Socialist" parameters (e.g. min/max personal incomes) within which "Capitalism" can thrive.
I don't think #Capitalism per se is bad; it's the reckless way it is left to its wealthiest proponents to make its rules, in their own (tiny) minority interest.
Putting it simply, I'd like to see "#Socialist" parameters (e.g. min/max personal incomes) within which "Capitalism" can thrive.
AKingsburyThe only problem with such a proposal is that you've got to pick an overarching framework. If you have free market capitalism, pockets of people are free to functionally live as socialists if they choose to. If you have socialism...well, you've got socialism. And nothing else.
@AlexanderKingsbury @lyndamerry484
That's a popularized, but I believe, fake, dichotomy.
My proposition isn't like that at all.
One simple example of "socialist" parameters containing capitalist freedoms would be UBI & UMI (Maximum income, i.e. a 100% tax band, linked to the bottom 5% average income & along with other balancing parameters), such that if the bottom 5% grows, so does the UMI. But capitalize at will within that space.
Yes, no, it'll never happen. 🤷
That's a popularized, but I believe, fake, dichotomy.
My proposition isn't like that at all.
One simple example of "socialist" parameters containing capitalist freedoms would be UBI & UMI (Maximum income, i.e. a 100% tax band, linked to the bottom 5% average income & along with other balancing parameters), such that if the bottom 5% grows, so does the UMI. But capitalize at will within that space.
Yes, no, it'll never happen. 🤷
There is a clear and objective dichotomy. Either the means of production can be owned privately, or they cannot be.
And it's hardly a "capitalist freedom" to have a UBI. It's not in accord with a free market to force people to pay for things against their will, including subsidizing others, especially when those others don't need the subsidy.
@AlexanderKingsbury @lyndamerry484
Who is doing this "pay for things against their will"?
What are they paying for?
From what resources?
Who is doing this "pay for things against their will"?
What are they paying for?
From what resources?
Anyone who does not actively want to pay for the UBI and yet is made to, the UBI, and from wherever their income is from.
....where do you imagine the treasury gets money from?
@AlexanderKingsbury @lyndamerry484
You do know where #Money "comes from", surely, in any sovereign State with its own #currency?
And where it ultimately goes?
#FIAT #MMT
You do know where #Money "comes from", surely, in any sovereign State with its own #currency?
And where it ultimately goes?
#FIAT #MMT
Yes; of course, it's dependent on a variety of things. I also know how to answer questions. Do you?
@AlexanderKingsbury @lyndamerry484
OK. US currency, the dollar, is #FIAT, from the Italian "Let it be done", used to describe how money is made: By a Treasury decision, a push on a button, that *creates* however much they wish for any particular purpose). Lots of info if you type "Where does money come from?" or "What is FIAT money?" or even "Who pays for UBI?" into YouTube.
Yang explains UBI & how it is financed here: https://www.youtube.com/watch?v=Sgcvtjoi8Bs
UBI *goes* into the local productive economy.
OK. US currency, the dollar, is #FIAT, from the Italian "Let it be done", used to describe how money is made: By a Treasury decision, a push on a button, that *creates* however much they wish for any particular purpose). Lots of info if you type "Where does money come from?" or "What is FIAT money?" or even "Who pays for UBI?" into YouTube.
Yang explains UBI & how it is financed here: https://www.youtube.com/watch?v=Sgcvtjoi8Bs
UBI *goes* into the local productive economy.
How Universal Basic Income Would Work, According to Andrew Yang | Opinions | NowThis
So you're proposing that UBI should be funded, not by taxes, but simply by printing all the money necessary to give everyone a pile of cash?
@AlexanderKingsbury @Quantillion
You said
''So you're proposing that UBI should be funded, not by taxes, but simply by printing all the money necessary to give everyone a pile of cash?'
Me, no I say the opposite just printing money the economy has not earned will and does cause inflation.
@lyndamerry484 @AlexanderKingsbury
Inflation is affected mostly by the interest rate set by the Fed.
Have you any idea how much in US$ exists in all its forms right now?* (And who mostly has it?**)
#UBI would be very little "new" money at all, and there is a huge well of existing wealth to fund it. What's more, UBI to low-income families gets spent straight back into the economy, improving production & GDP (#MultiplierEffect).
(*around $1 quadrillion)
(**Not low-income US families.)
Inflation is affected mostly by the interest rate set by the Fed.
Have you any idea how much in US$ exists in all its forms right now?* (And who mostly has it?**)
#UBI would be very little "new" money at all, and there is a huge well of existing wealth to fund it. What's more, UBI to low-income families gets spent straight back into the economy, improving production & GDP (#MultiplierEffect).
(*around $1 quadrillion)
(**Not low-income US families.)