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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
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