Functional Finance and the Sustainability of Universal Basic Income
<p dir="ltr">“Functional finance” is an economic theory within the Post Keynesian school of thought. Especially in the form of Modern Monetary Theory (MMT), it has begun to have two big but opposite effects on the debate over Universal Basic Income (UBI). Some people state MMT in an...
محفوظ في:
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| منشور في: |
2024
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إضافة وسم
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| _version_ | 1864513555966984192 |
|---|---|
| author | Karl Widerquist (19757040) |
| author_facet | Karl Widerquist (19757040) |
| author_role | author |
| dc.creator.none.fl_str_mv | Karl Widerquist (19757040) |
| dc.date.none.fl_str_mv | 2024-04-10T03:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1515/bis-2023-0024 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Functional_Finance_and_the_Sustainability_of_Universal_Basic_Income/27130101 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Economics Applied economics Economic theory basic income functional finance Modern Monetary Theory |
| dc.title.none.fl_str_mv | Functional Finance and the Sustainability of Universal Basic Income |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">“Functional finance” is an economic theory within the Post Keynesian school of thought. Especially in the form of Modern Monetary Theory (MMT), it has begun to have two big but opposite effects on the debate over Universal Basic Income (UBI). Some people state MMT in an exaggerated way that implies the government can spend all it wants on UBI or anything else without ever raising taxes or borrowing money as if government spending had no limits of any kind. Other people refer to MMT while arguing that any effort to maintain a livable level of UBI is unsustainable. This article discusses the functional finance implications for the cost and sustainability of UBI, arguing that neither of those exaggerated implications are correct. MMT doesn’t free us for the concern for how to support UBI with taxes, but neither does it give reason to believe UBI is any less sustainable.</p><h2>Other Information</h2><p dir="ltr">Published in: Basic Income Studies<br>License: <a href="http://creativecommons.org/licenses/by/4.0" target="_blank">http://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1515/bis-2023-0024" target="_blank">https://dx.doi.org/10.1515/bis-2023-0024</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_194857c6d49b6aeff4278a357eab73c1 |
| identifier_str_mv | 10.1515/bis-2023-0024 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/27130101 |
| publishDate | 2024 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Functional Finance and the Sustainability of Universal Basic IncomeKarl Widerquist (19757040)EconomicsApplied economicsEconomic theorybasic incomefunctional financeModern Monetary Theory<p dir="ltr">“Functional finance” is an economic theory within the Post Keynesian school of thought. Especially in the form of Modern Monetary Theory (MMT), it has begun to have two big but opposite effects on the debate over Universal Basic Income (UBI). Some people state MMT in an exaggerated way that implies the government can spend all it wants on UBI or anything else without ever raising taxes or borrowing money as if government spending had no limits of any kind. Other people refer to MMT while arguing that any effort to maintain a livable level of UBI is unsustainable. This article discusses the functional finance implications for the cost and sustainability of UBI, arguing that neither of those exaggerated implications are correct. MMT doesn’t free us for the concern for how to support UBI with taxes, but neither does it give reason to believe UBI is any less sustainable.</p><h2>Other Information</h2><p dir="ltr">Published in: Basic Income Studies<br>License: <a href="http://creativecommons.org/licenses/by/4.0" target="_blank">http://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1515/bis-2023-0024" target="_blank">https://dx.doi.org/10.1515/bis-2023-0024</a></p>2024-04-10T03:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1515/bis-2023-0024https://figshare.com/articles/journal_contribution/Functional_Finance_and_the_Sustainability_of_Universal_Basic_Income/27130101CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/271301012024-04-10T03:00:00Z |
| spellingShingle | Functional Finance and the Sustainability of Universal Basic Income Karl Widerquist (19757040) Economics Applied economics Economic theory basic income functional finance Modern Monetary Theory |
| status_str | publishedVersion |
| title | Functional Finance and the Sustainability of Universal Basic Income |
| title_full | Functional Finance and the Sustainability of Universal Basic Income |
| title_fullStr | Functional Finance and the Sustainability of Universal Basic Income |
| title_full_unstemmed | Functional Finance and the Sustainability of Universal Basic Income |
| title_short | Functional Finance and the Sustainability of Universal Basic Income |
| title_sort | Functional Finance and the Sustainability of Universal Basic Income |
| topic | Economics Applied economics Economic theory basic income functional finance Modern Monetary Theory |