Stephen Yearwood
Sep 6, 2018 · 1 min read

As Mr. Evans points out in his response, the federal debt creates money for the economy. I stumbled upon a way of accomplishing that end that is much more efficient and provides the means to eliminate unemployment (at no cost to anyone), poverty (without having to redistribute anything), taxes (of all kinds), and public debt (at all levels of government). It would increase sustainability (as demographics would passively but effectively govern total output). The monetary system and the economy as a whole would be completely self-regulating and there would still be no limit on income or property/wealth. Otherwise, there is little to recommend it.

For the record, I do have an M.A. in economics. If curious, a sketch of the proposal is available in “A Cure for the Ills of Capitalism” here on medium.com. I found this approach to supplying the economy with money in thinking about a more just economy (“Extending Democracy to Our Capitalist Economy to Transform Our Society,” also here).

    Stephen Yearwood

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    unaffiliated, non-ideological, unpaid philosopher and political economist