Europe – especially Greece and Italy – is not working

Isn't new technology amazing? I remember reloading Windows 10 on my PC and then, without me doing a thing, icons started reappearing on my screen until my old Windows configuration and had been rebuilt with all my original software loaded back on.

The modern technology may be crazy, like 3D printing, but it seems we are finding very smart ways to run our economies too.

Those Minibots again!

Unemployment

Many observers will have forgotten that German unemployment was higher for 3 years from 2005 to 2007 than the rate of Greece and Italy. 

But obviously since then, unemployment in these countries exploded, Germany’s has dropped. How can we get it down again? The previous post on Minibots has already talked about ways of getting unemployment down in Italy. Increase aggregate demand through offering a limited job guarantee (20 hours a week) plus an state-owned electronic transfer system for the new Minibots in electronic form, which would pay each Italian 10 minibots a month (helicopter money), to increase acceptance of these minibots by making them universal.

A similar scheme had previously been proposed by me for Greece. The advantage would be that the extra GDP from these measures (multiplier of 2) would be sufficient to increase GDP, and generate enough extra income to prevent a shortfall in taxes.

Radical Economic Thought

Europe – especially Greece and Italy – is not working