Friday, June 10, 2016

Jeff Spross — How to stave off a recession with a plan even a 5-year-old could understand

America is on recession watch. Job growth dropped from 2014 to 2015, and again from 2015 to 2016. The rate of new hires has plateaued. In the past, the latter signal has heralded a recession within the next year or so.
My colleague Ryan Cooper notes that both Congress and the Federal Reserve appear paralyzed in the face of this possibility. So allow me to offer a potentially recession-preventing policy suggestion that both liberals and conservatives could theoretically love: revenue sharing.
Revenue sharing is stupidly straightforward. It employs a core lesson that every child is taught: sharing.….

The Week
How to stave off a recession with a plan even a 5-year-old could understand
Jeff Spross

1 comment:

Andrew Anderson said...

Well, some don't like big government at any level.

So how about this instead:

a) Give all citizens a default account at the Federal Reserve.
b) Distribute new fiat equally to those accounts.

Now who can object to this except bank lovers since they know it spells the beginning of the end* of the system whereby the poor are forced to lend to banks for the benefit of the rich?


Still, we are closing in on the solution which is hopeful.

*Because accounts at the Federal Reserve are inherently risk-free then what need for government-provided deposit insurance? Or other privileges for the banks?