Articles in the financial crisis Category

A front page story in the New York Times considers European governments’ refusal to take the Obama administration’s advice and spend lots of money to stimulate their economies. The article gives further insight into (1) why we ought to enact a guaranteed basic income, Citizen Dividends, and (2) why basic income is very different than [...]

The Federal Reserve Board will spend $1.2 trillion to buy long-term government bonds and other securities as a way to stimulate economic activity. That $1.2 trillion could give every adult roughly $1,000 a month for six months. Give us the money. We’ll stimulate economic activity by our spending. We’ll make mortgage payments, ending the foreclosure [...]

Aid to small businesses is a step, potentially, though only a baby step, in the direction of a guaranteed basic income for all Americans. A New York Times story about President Obama’s announcement is here and a 15-minute video is here. A story in the Washington Post, here, includes the following paragraph: “Small businesses are [...]

There’s been a lot of talk lately about capitalism and socialism. A guaranteed basic income, Citizen Dividends, is the best of both. Everyone will enjoy real freedom and real financial security. A secure income is necessary for freedom. As Franklin Roosevelt said, “Necessitous men are not free men.” (In Roosevelt’s speech, that statement was in [...]

Here’s Tom Friedman, calling the financial crisis “the big one” and comparing it to “the morning after Pearl Harbor.” If he really believes that, he ought to consider, at least, endorsing Citizen Dividends, a guaranteed income for every adult American. Wielding his favorite weapon, colorful metaphors, he compares our financial system to the heart, money [...]