Functional Finance and the Sustainability of Universal Basic Income

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-04-09 DOI:10.1515/bis-2023-0024

Karl Widerquist

引用次数: 0

Abstract

“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.

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功能金融与全民基本收入的可持续性

"功能金融 "是后凯恩斯学派的一种经济理论。特别是以现代货币理论（MMT）的形式，它已经开始对有关全民基本收入（UBI）的辩论产生两种巨大但相反的影响。一些人以夸张的方式阐述 MMT，暗示政府可以在 UBI 或其他任何事情上尽情挥霍，而无需加税或借钱，就好像政府支出没有任何限制一样。还有一些人在引用 MMT 的同时，认为任何维持适度的全民医保水平的努力都是不可持续的。本文讨论了功能金融学对全民医保的成本和可持续性的影响，认为这两种夸大的影响都不正确。MMT 并没有让我们不必担心如何用税收来支持全民医保，但也没有让我们有理由相信全民医保的可持续性会降低。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.