Photo by Ferran Fusalba Roselló on Unsplash
Geoff Crocker of the FRIBIS Team ‘Financing UBI’ (FUBI) writes in “Prospect” magazine, describing the complex way the state currently borrows money from itself to finance COVID aid spending, and how much simpler it would be if it consistently and openly created the money itself debt-free, and paid it out to everyone by means of a basic income – without danger of inflation.
In fact, Crocker says, this is clearly taking place anyway in financing the lockdown, but it is clouded by traditional orthodox complex concepts, which make it inefficient, as well as unnecessarily creating risk free margins for intermediaries in the stock market.
The full article is available on the Prospect Magazine website.