Time for a modern Debt Jubilee
The Full Interview with Prof. Steve Keen
In this bonus episode Professor Steve Keen joins Dr. Daniel Stelter to talk about financial crises, elevated private debt levels and the need for a modern debt jubilee – which could be done!
Prof. Keen is Honorary Professor, UCL & ISRS Distinguished Research Fellow. You find him here: www.profstevekeen.com
Informationen zum Nachlesen finden Sie im Blog auf think-beyondtheobvious.com. Fragen und Rückmeldungen zu diesem Podcast schicken Sie per E-Mail an email@example.com.
A modern debt jubilee is a great policy, and it utilizes the same basic accounting convention as does a 50% discount/rebate policy at the point of retail sale, that is, equal debits and credits sum to zero. The discount/rebate policy at retail sale however immediately doubles the purchasing power of everyone’s income and ends any posibility of inflation. Thus it benefits both the individual and enterprise and so opens the possibility of integrating the self interests of labor and management. This means it is a policy that could enable a political integration. Wed a 50% discount/rebate policy and a universal dividend of sufficient amount and all payroll transfer taxes for welfare, unemployment insurance and even social security become redundant and could be eliminated. This is an additional politically integrative opportunity.