UBI Lab Leeds and UBI Lab Network invite you to this thought-provoking webinar.
Geoff Crocker proposes to use Sovereign Money. He will discuss his proposition with Malcolm Sawyer who is a retired professor of economics from the University of Leeds and a critic of the concept of Sovereign Money. So this promises to be a lively online event where you will learn more about Universal Basic Income and Sovereign Money. You will have the opportunity to ask questions and provide comments on the topic.
When? 14 June 2023 6.30-8pm (18.30-20hrs) BST (UK) time
Where? Online event
Learn more about the event and the speakers by clicking here.
Please book a place here and receive the invitation link.
Yes, l agree with the idea that SovereignMoney be availed for the implementation of UBI. Yes, the implementation of UBI will help Governments adhere to article 25 UN declaration and in Kenya fulfill Chapter four; Human Rights Article 43 c,e and f.
Yes, the implementation will go along in supporting World Sustainable Development goals.
Yes, poverty will be history.
We need HUMAN standard monetary system to realize UBI without tax increase
see below, please
Why not call it social credit? It’s money issued by the government as credit for the purpose of social spending (as opposed to money issued by banks as debt for the purpose of shareholder profit and bankers’ bonuses). “Sovereign(ty)” sounds like a Brexit promise.
Other similar proposals exist, e.g. what the Center for Economic and Social Justice calls the Economic Democracy Act, aka the Capital Homesteading Act (borrow that nickname from the various land grant Homestead Acts in the US from the mid-19th century to the early 20th century.
In essence, instead of all new money being “loaned” into existence via the private for-profit banking industry, at least a portion of all expansions of any sovereign money supply (for the purpose of accommodating GDP growth without inflation) would be granted (rather than loaned) to every citizen, but not as so-called “helicopter money” to be used for any purpose each recipient sees fit to use such cash grants for.
Instead, such legislation would restrict such cash grants to investments that have the potential to build financial wealth, e.g. higher edu, buying a home, starting a business, or saving for retirement.
Excerpt from the following link: “The Case for an Economic Democracy Act”
“In today’s US economy productive capital is growing annually in both the public and private sectors at a rate exceeding $12,000 for every man, woman and child.
“On our present path, that new capital, the source of America’s capacity to produce in greater abundance than other economies, will continue to be financed in traditional ways.
“That means few, if any, new owners will be created by those traditional processes.
“Over the years this has led to an enormous and growing wealth gap, illustrated by the fact that the two wealthiest Americans had greater accumulations than half the American people combined and the top 10% own 90% of all directly-held corporate stock.
“Most citizens have not accumulated enough assets to meet their household needs for more than a month or so, if they become disabled or lose their jobs. They are wholly dependent on jobs, welfare or charity to meet their needs from birth to the grave. The non-rich have no independent source of an adequate and secure income.
“The Economic Democracy Act (formerly called The Capital Homestead Act) is designed to close this growing wealth gap, consistent with free enterprise values of private property, free market competition and minimal government intervention with voluntary choices among producers and consumers.
“In other words, it aims to lift barriers so that the poor and non-rich people can lift themselves up into capital ownership, uniquely without taking existing property away from the rich.
“Building upon Lincoln’s Homestead Act of 1862 (which democratized ownership of the land frontier), the Economic Democracy Act (aka Capital Homestead Act) is oriented to the limitless frontier of the future — the technology frontier — which can and should be made equally accessible to all “property-less” persons as a fundamental right of citizenship.
“This is the essence of the American Dream that inspired the lovers of freedom and justice everywhere.”