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Is a revolution in economic thinking under way?

Our current situation is conducive to revolutionary thinking, if not yet in politics, then maybe in economics.

 

The BoE has spent £50 billion over the past six months to support bond prices. That could instead have financed a cash handout of £830 for every man, woman and child in Britain, or £3,300 for a typical family of four. In the United States, the $40 billion the Fed has promised to transfer monthly, with no time limit, to banks and bond funds, could instead finance a monthly cash payment of $500 per family – to be continued indefinitely until full employment is restored.


// oAnth: What sounds on a first glance quite marvelous, needs in my opinion to consider who is paying here to whom by which kind of interests and conditions.  The question where these huge amounts of money are coming from seems to be not even noteworthy.

The states' fiscal sovereignty is completely questioned. It's an open revolution not in economic thinking, but in the foundations of the state's authority. In so far this discussion continues the neoliberal agenda on a less hidden manner as a clear opening to the area of neofeudalism and proves an ongoing obvious power shift.

It has IMHO nothing to do with a P2P decentralized economy.


// oAnth: I would like to correct my latest entry in so far, as I have misunderstood the source of the money, which is to spend. If I understand well now, it would be a more or less indirect debt cut by spending money, created by the central bank, directly to the population, but - but as I would instantly like to add,  the incentive to the exploitation circle would nevertheless in a long run only be to tame by additional much higher top income taxes.

    

Reposted from02mysoup-aa 02mysoup-aa

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