Now here's a twist.
with China's economy in seeming free fall with rampant deflation from the collapse of their real estate industry the woes of China have attracted some interesting adviceInvestment bank Morgan Stanley, in a recent report, urged policymakers to consider switching stance on a solution, and consider putting in place a long-term social welfare program for lower-income families.
This, it argues, would stabilise household wealth and encourage more consumer spending, which would help put the economy on a more stable footing.
abc lune
and the next bit highlights our own lack of understanding of how to build up an economy....
Instead, it fears authorities will revert to the old formula of pumping vast amounts of capital into infrastructure that could undermine productivity.
so should China adopt a UBI in order to prop up the market and boost demand thereby raising pressure on prices.?
given that we are caught in a similar situation albeit with continuing inflation (falling according the WBC to an annualised rate of 2.7% for August).
I personally don't have an opinion. this sort of economics looks too much like athletics or pumping iron.... too much like hard work these days. but UBI wouldn't be universal only providing top up to those least well paid. those that will always be unlikely to get ahead due to limitations or disabilities.
yep already there are those on Centrelink but exclude those or raise the rate - I was noticing with gratitude that I'm not receiving the pittance the aged pension is rising to - and this would not merely help a lot of the most seriously affected by Cost Of Living, but would slice off the risk of diving headfirst into recession by boosting demand. at the right timing of course.
jmt
