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> The concept is to replace the convoluted welfare systems that has been built up incrementally over decades with a simple monthly payment straight into people'
by Red_Tarsius 12y ago
> The concept is to replace the convoluted welfare systems that has been built up incrementally over decades with a simple monthly payment straight into people's accounts. In a country that is suffering from high unemployment and a significant shortfall in domestic demand as a consequence, such a scheme could (in theory) offer a backstop for Greek demand. It would provide individuals with the confidence of a future income and alleviate part of the "humanitarian crisis" currently being suffered in Greece.
I'm looking forward to it, Greece might be the perfect place to test out basic income. If they find a feasible implementation and it works, Yanis Varoufakis is going to trigger the biggest economy revolution in decades.
- orlandob 12y agoAmazing if it actually happens. I don't think basic income guarantee alone will get Greece's economy going. Sadly, the economic/monetary illiterates will blast the basic income for anything less that a complete economic revolution.
- Red_Tarsius 12y agoTo clarify, I don't see basic income as THE magic touch to get Greece out of its troubles and it doesn't do much by itself. It just happens that I'm excited about that piece of the whole plan. Implementation is still king and, for the good or bad, Greece is going to be the testing ground and provide data for future debates.