With monetary policy and quantitative easing we simply create money on nearly the same order of magnitude. Unfortunately this money flows primarily to investment banks and other large institutions, not to individuals.
I am much more interested in UBI as a substitute for both welfare and monetary policy, than for welfare alone. The gross anatomy of most western economies would be radically changed though, rendering most scale comparisons moot and also making it difficult to imagine how to get there from here - incumbent beneficiaries would fight it tooth and nail.
Comments
With monetary policy and quantitative easing we simply create money on nearly the same order of magnitude. Unfortunately this money flows primarily to investment banks and other large institutions, not to individuals.
I am much more interested in UBI as a substitute for both welfare and monetary policy, than for welfare alone. The gross anatomy of most western economies would be radically changed though, rendering most scale comparisons moot and also making it difficult to imagine how to get there from here - incumbent beneficiaries would fight it tooth and nail.