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AQ
@
Evollaqi
United Kingdom
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Oxford and Cambridge alum. Interested in philosophy, politics, and Islam.
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14.690
Tweetovi
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3.970
Pratim
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5.435
Osobe koje vas prate
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AQ
@Evollaqi
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20 h |
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UBC was top of my list :)
If you're worried about UBI causing inflation, are you worried about all welfare spending on the poor?
Also, inflation tends to hurt creditors, savers, and investors - relatively benefits debtors and spenders
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AQ
@Evollaqi
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20 h |
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I'm screaming
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AQ
@Evollaqi
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20 h |
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I'm specifically advocating these policies because, inter alia, they're redistributionary - so that's fine by me!
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AQ
@Evollaqi
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20 h |
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Has QE been shown to cause inflation? twitter.com/QasimHickman/s…
Anyway kay let's say we're producing at our economy's productive capacity - by increasing taxes and state ownership to pay for these policies there wouldn't be inflation. We'd just get less of other things.
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AQ
@Evollaqi
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20 h |
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productive use of our existing factor inputs.
If we can do that - no inflation.
If we can't, then we'll get inflation, as the economy won't have the productive capacity to meet these spending increases, so we have more money chasing fewer goods and services.
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AQ
@Evollaqi
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20 h |
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It depends on the capacity of the economy to produce goods and services.
We might already have enough going around that these policies would merely redistribute them.
But if we don't, we need more factor inputs (labour, capital, etc), or - more likely - need to make more
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AQ
@Evollaqi
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20 h |
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Perhaps these policies (incl state ownership and taxation needed to provide them), alongside a pluralist-liberal and pro-market state, and maybe even a degree of moderate social conservatism could serve as a "grand bargain" winning the assent of many different factions in society
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AQ
@Evollaqi
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21 h |
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I'm using the term "production" more broadly - finance and services come under it.
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AQ
@Evollaqi
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21 h |
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Agreed. And UBC and UBI are largely untested so it's hard to say. (We know UH can absolutely work fine, though perhaps it can be botched.)
UBI has the biggest tail risk here - could create large numbers of people who basically cease to ever engage in productive activity.
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AQ
@Evollaqi
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21 h |
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raising taxes and cutting spending to "pay for it" [as mainstream economists would say]).
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AQ
@Evollaqi
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21 h |
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Depends on what our society's capacity to produce is.
If the spending from UBC + UBI + UH pushes outstrip our capacity to produce, then we'd likely see inflation - unless we could recoup a lot of their costs (eg by taxing that money out of circulation [as MMTs would say] /
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AQ
@Evollaqi
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21 h |
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But perhaps we don't want to reform the fundamental structures, and deem the achievement of these policies within them a worthy end goal in itself.
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AQ
@Evollaqi
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21 h |
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Though if we wanted, we could radically reform or replace those fundamental structures too.
These policies could be a stepping stone to those ends that we end up not having need for, or a part but only a part of those ends.
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AQ
@Evollaqi
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21 h |
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Universal Basic Capital, Universal Basic Income, and Universal (far more than "basic") Healthcare could radically transform society.
We'd have a much freer and much more egalitarian society, without even needing to reform or replace society's most foundational structures. twitter.com/jdcmedlock/sta…
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The Atlantic
@TheAtlantic
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24 h |
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"The sharpest distinction Warren has drawn with her ally from Vermont is her gender," writes @FranklinFoer. "In a more accurate rendering of the pair, that is only the beginning of their differences." on.theatln.tc/ea1Ic6k
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AQ
@Evollaqi
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3. velj |
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I love this thread, thank you!
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Kevin J.S. Zollman
@KevinZollman
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3. velj |
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For week 2 in my Network Epistemology class, we looked at a classic economics model: information cascades.
The basic idea of the info. cascade model is to show that even rational individuals can sometimes engage in apparently irrational collective behavior.
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Zara
@zaranosaur
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3. velj |
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Genuinely, as a disabled descendent of Jewish people murdered in the Holocaust, the rhetorical invocation of the Holocaust as a way of somehow proving white and British anti-racism while erasing and denying how that genocide sits amongst and against others, makes me furious. twitter.com/kehinde_andrew…
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Ilias Alami
@IliasAlami
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3. velj |
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As Marx noted, “Banjuwangi, a province of Java, numbered over 80,000 inhabitants in 1750 and only 18,000 in 1811. That,” he exclaimed in bitter irony, “is peaceful commerce!”
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AQ
@Evollaqi
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3. velj |
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Further, important, clarification: twitter.com/kaymtye/status…
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