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UBI doesn't have to depend on tax collection. It can also be a replacement for monetary policy, and in that form would be more delicate control than the curren
by inopinatus 10y ago
UBI doesn't have to depend on tax collection. It can also be a replacement for monetary policy, and in that form would be more delicate control than the current open-market operations, since it is not subjected to an easily-manipulated money multiplier. It may also be fairer since it creates capital markets from the bottom up, thus enabling small-scale entrepreneurship through personal liquidity. Some might see that as far more democratic than buying bonds from merchant banks. It also suggests a more direct adjustment of inflation, rather than manipulating inflation through the effects of interest rate on debt.
This is all somewhat theoretical because any discussion of change to central banking systems ends up stymied by institutional resistance, public confusion, entrenched interests, and political reluctance. Nonetheless the option exists. If I was studying towards an economics PhD right now, I'd probably be modelling the comparative behaviours & outcomes of UBI-based monetary policy.
p.s. your vision of autonomous communities makes me dream of an end to nation states and a return to the sovereign municipalities of both the distant past and a [science-fiction future](https://en.wikipedia.org/wiki/The_Diamond_Age https://en.wikipedia.org/wiki/The_Diamond_Age).