Tuesday, 15 May 2012
Mad and madder still
Tom Healy: Forget 2012. Imagine 2062. In the United States of Europe let there be a poverty brake. If the structural poverty rate goes above 0.5% in 2 consecutive quarters an automatic correction and excessive poverty proceedure kicks in leading to sanctions for countries that continue. Meantime a constitutional amendment is required to enshrine a right to a basic income for all citizens. Will the markets be impressed? By what measure will human well-being be assessed? Alas in the long run we are all dead said Keynes. Remember him.