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From a libertarian perspective, I've always thought that the best aspect of a basic income guarantee is that it allows monetary expansion to occur broadly, elim
by carsongross 12y ago
From a libertarian perspective, I've always thought that the best aspect of a basic income guarantee is that it allows monetary expansion to occur broadly, eliminating the banking sector's advantage as an early receiver of monetary inflation.
That, by itself, is a huge step forward and a rare place where both libertarians and keynesians can find common ground.
On the other hand, it goes right at the heart of both the banking system and centralized political power. Which is why, sadly, it will never happen.
- nickff 12y agoYou are quite right that the basic income would help monetarists and Keynsians increase the money supply more evenly, with less distributive problems, but I would not say that this is good from a purely libertarian perspective. Many libertarians believe that free banking is a much better system than our current system, and they would criticize the points you make as being of little benefit, and mostly being a distraction. I think you make some good points, but I would have to think about this for a while before I could come to a firm opinion (because this is the first time I have heard your very interesting reasoning).