4 ms·
Keene's suggestion is basically a flat universal payment, if you have debt it must be used to pay down debt first. http://www.debtdeflation.com/blogs/manifesto
by fineline 10y ago
Keene's suggestion is basically a flat universal payment, if you have debt it must be used to pay down debt first.
http://www.debtdeflation.com/blogs/manifesto/ http://www.debtdeflation.com/blogs/manifesto/
I don't really get how it's supposed to work though. What would ensure it increased consumption and productive investment, rather than just further fuelling asset price inflation.
- carsongross 10y agoIt's supposed to work because Keene's models suggest it would work: the failure in the economy is not one of underproduction (we have dramatic overcapacity and, if anything, overproduction) but rather a lack of monetary power in the broader consumers hands, caused by the burden of private debt. It's unorthodox, but I buy it. Or, at least, I'd rather try his solution than keep trying the failed policies of both the orthodox and keynesians.