A poster in this forum recently characterized as "dangerously ignorant" my proposal to fund basic income on the Fed’s balance sheet at no taxpayer cost.
It’s funny, because I sometimes feel the same way about tax-funded basic income proposals.
The "ignorance" charge probably refers to ignorance of standard economic models, which predict massive inflation would result from my proposal to create money to fund basic income.Such predictions rely on an accounting model of the economy, which gets its supporting data mainly from National Income and Products Accounts (NIPA), and Flow of Funds Accounts (FFA), statistics.NIPA assumes the standard economic model of […]
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