David DeGraw, “The Coming Revolution: Evolutionary Leap or Descent Into Chaos and Violence?”

In this excerpt from David DeGraw’s book, The Economics of Revolution, he suggests that the money the US government used to stimulate the economy through quantitative easing constituted a hand-out to the rich, and would have been better directed elsewhere, namely towards the provision of a basic income. He writes that, ‘If they truly wanted to stimulate the economy, they could have given the $4 trillion to every non-millionaire household, which would have been $40,000 per household, or they could have given 114,285,714 people $35,000 each. If we clawback QE from the ultra-rich, we can eliminate poverty and guarantee a Living Income to every person over the age of 18.

The full article is available here:

David DeGraw, “The Coming Revolution: Evolutionary Leap or Descent Into Chaos and Violence?”, The Economics of Revolution, 7th October 2014