29 Mar 2015

19 economists call for QE for citizens in the Financial Times

I'm delighted to hear that I am not the only person who thinks that Mario Draghi could use  €60 billion a month of money creation more intelligently. Back in January I wrote to him to propose that he should simply give every man, woman and child in the Eurozone €186 a month as a sort of Unconditional Basic Income. Far better than throwing the money at the financial sector and praying...

Thanks in part to lobbying from Positive Money, a group of 19 economists signed a letter in the Financial Times on March the 26th asking for exactly the same thing - except that they are only proposing €175. Great minds think alike ;-)

Screenshot 2015-03-27 12.40.00

The letter is signed by the following 19 notable names.  

Victoria Chick, University College London
Frances Coppola, Associate Editor, Piera
Nigel Dodd, London School of Economics
Jean Gadrey, University of Lille
David Graeber, London School of Economics
Constantin Gurdgiev, Trinity College Dublin
Joseph Huber, Martin Luther University of Halle-Wittenberg
Steve Keen, Kingston University
Christian Marazzi, University of Applied Sciences and Arts of Southern Switzerland
Bill Mitchell, University of Newcastle
Ann Pettifor, Prime Economics
Helge Peukert, University of Erfurt
Lord Skidelsky, Emeritus Professor, Warwick University
Guy Standing, School of Oriental and African Studies, University of London
Kees Van Der Pijl, University of Sussex
Johann Walter, Westfälische Hochschule, Gelsenkirchen Bocholt Recklinghausen, University of Applied Sciences
John Weeks, School of Oriental and African Studies, University of London
Richard Werner, University of Southampton
Simon Wren-Lewis,University of Oxford

Let me add my own.

Simon Thorpe, CerCo (Brain and Cognition Research Centre), Toulouse, France

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1 comment:

  1. Even better [I think] would be to create new money by lending money to citizens, if they need/want it, instead of 'benefits' with no restrictions on working if you accept it. Further, up to a limit [say 150,000] to allow citizens to borrow at say 5% to pay down any debts they have, that are not in default. Recoup the money loaned out with a turnover/transaction tax, granting occasional jubillees.
    This from new local banks subsidiary to NMA.