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Has a living income been tried anywhere?
2008-2010, in Otjivero in Namibia there was a pilot project where every adult gets 100 namibian dollars a month (50 for kids, payed to the mother) for two years. Resulting in more economic activity, less poverty, crime and malnourishment. The pilot project came about as a result of the claims that the 2002 Namtax proposal of universal living income faced.
Similar project in Ghodhakurd in Madhya Pradesh in India in 2012. They got 300 rupees a month, half for kids.
Both were intended primarily as poverty relief (hence the low sums) and as such appears more efficient then other projects. Neither has been continued or led to national projects. According to Guy Standing at University of London this is primarily because of pressure from IMF and the World Bank.
This info is courtesy of Grus&Guld, JAK Sweden's dead tree paper. JAK is a bank for interest-free saving and loans.
Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se
According to recent estimates, in Spain there are 1.4m households where nobody is working, and half a million households with no income.
The relative poverty level (60% of median household income) is about 15k a year.
So, if you decided to pay 15k per household to the 500,000 households with no income, it would cost 7,5bn per year. Since Spain's GDP is roughly one trillion per year, it would cost less than 1% of GDP to "artificially" bring all the households with no income above poverty level.
15k per year for 2m households would come to 30bn per year, or 3% of GDP.
If you believe in the quantity theory of money, this could accelerate inflation by 3%. But it you make this into a job guarantee programme there would be additional goods (but mostly services) provided by the programme participants and inflation would be reduced.
What, we can end poverty and unemployment for 3% of GDP? Why are we not doing it?
Finance is the brain [tumour] of the economy
No, really. That is the reason.
History of the board game Monopoly
The history of the board game Monopoly can be traced back to the early 20th century. The earliest known design was by an American, Elizabeth Magie, patented in 1904 but existing as early as 1902. Magie's original intent was to publish a board game to illustrate an economic principle, namely the Georgist concept of a single land value tax.
Indeed, whether or not it is a job guarantee program, the Spanish economy is sufficiently depressed that there will be no appreciable inflation from a 3% boost to national income.
I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
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