Simon Jenkins, “We should cash-bomb the people – not the banks”

[Josh Martin]

This article scrutinizes the pro-banker approach the EU has taken in the aftermath of the recession and argues that we should be giving the money to the people instead.  Jenkins discusses the QE practiced by the US and the EU and mourns its shortcomings.  In contrast, Jenkins mentions the policy put forward by John Muellbauer to create “QE for the people” as a sort of basic income to the citizens instead of channeling the money to the banks.

Simon Jenkins, “We should cash-bomb the people – not the banks”, The Guardian, 26 November 2014.

Jean-Claude Juncker claimed the €21bn European fund would ‘entice private backers to invest ‘up to' 15 times the sum. Who will invest when there is no demand?' Photograph: Walter Geiersperger/Corbis (Source: The Guardian)

Jean-Claude Juncker claimed the €21bn European fund would ‘entice private backers to invest ‘up to' 15 times the sum. Who will invest when there is no demand?' Photograph: Walter Geiersperger/Corbis (Source: The Guardian)

M. Oliver Heydorn, “The (Big!) Difference Between a 'Basic Income' and the National Dividend”

[Josh Martin]

Heydorn writes from the perspective of those enamored with the idea of a Social Credit proposal for a National Dividend.  In this blog post he outlines the differences between such a dividend and a basic income.  First, he acknowledges the structural differences.  While a basic income is fixed at a level, the dividend would be fixed to productivity: no productivity, no dividend.  Secondly, he claims that the purpose of the basic income is to achieve full employment, while the dividend is supposed to encourage leisure.  Lastly, Heydorn says a basic income would be financed through currently in place means, but a dividend should be issued by a newly created National Credit Office.  For these reasons M. Olver Heydorn argues that those in favor of the Social Credit should hesitate to support a basic income and should instead seek to convince basic income supporters to join them instead.

M. Oliver Heydorn, “The (Big!) Difference Between a ‘Basic Income’ and the National Dividend”, Socred.org, 30 October 2014.