Sovereign Money Creation and Basic Income

The Covid crisis is prompting many rethinks about the fundamentals of economics policy and the social contract. How will all the money diverted into furlough schemes and other emergency programmes be recovered? How does increasing automation of work tasks change considerations? Is it time to accelerate the adoption of a Basic Income?
A frequent argument against Basic Income is that it would be either too small to be meaningful or too large to be affordable. Some seek a return to austerity measures as soon as possible.
But various heterodox economists dispute the importance of a "balanced budget" for a country, like the UK, which can create money by fiat. Potential paradigm shifts such as "Modern Monetary Theory", "Bank Money", and "Sovereign Money" are gaining more attention. How should we assess these approaches? Are they recipes for runaway inflation and ruinous debt for future generations? Or an inspired new way of understanding economic reality and "affordability"?
This London Futurists webinar in partnership with Radix featured Geoff Crocker, Radix's newest fellow, technology strategist, author, and advocate for both basic income and sovereign money. He shared insights from his recent book ‘Basic Income and Sovereign Money: the alternative to economic crisis and austerity policy’ - which Martin Wolf of the Financial Times included in his list of the best mid-year economic books - and answered audience questions.
This webinar was also part of Radix's exploration of options for recovery from Covid. See radixuk.org/
Geoff has worked extensively as an advocate for basic income, launching and editing the web site ‘The Case for Basic Income’. He has also helped initiate a research project on the economics of basic income at IPR Bath, the Basic Income Conversation hub hosted at Compass UK, and the conference ‘Is it Time for Basic Income’ at the Bristol Festival of Ideas, UK.
See www.ubi.org/ and www.basicincom...
The event was hosted by David Wood, Chair of London Futurists, and by Nick Silver, Board Member and Trustee of Radix.
For more about this event see www.meetup.com...
For a copy of the slides presented, see londonfuturist...

[@Horizon344]

Interesting discussion, thx.

[@UBIAICOSMOS]

Over the next 15 to 20 years, 60 percent of jobs will disappear due to #automation Technology is cheaper than workers. it's Time for a #BasicIncome & #FourDayWorkWeek