Print More Money and Hand it Out

[kanethenotorious]

Instead of pure socialism, a good way to create a welfare state would be to just print more money then hand it out to the bottom of society. Then use competition to stop inflation. If that doesn't work have the Government start opening up businesses that compete with the for profit businesses to keep the prices down.

This would allow us to continue with capitalism but still have a welfare state. Print money and hand it out basically. A band-aid.

 

[Buglord]

Isn’t this just Modern Monetary theory Kane? We are watching this play out in somewhat real time post Covid and it didn’t look like it really worked all that well.

 

[kanethenotorious]

The difference is that the money gets handed out to the banks. What I really should have written was reverse the money flow to the people instead of the banks.

 

[Langbardo]

The difference is that the money gets handed out to the banks. What I really should have written was reverse the money flow to the people instead of the banks.

Yes, when they print the money the way they're doing, are only the first who get it that have a benefit. The benefit then decreases after each passage down to the bottom, and the last one is not getting any benefit and will result poorer.
There have been and there is in some forms in Europe, where government give money to the poor (but givin' BCE's money is another problem, a state should print his own currency).
In Germany and Italy unfortunately the subside given is conceived in a way to limit the freedom, forcing the reciever to obey to programs of training and working, with continuous on-call availibity and acceptance of any kind of job.

 

[Langbardo]

have the Government start opening up businesses that compete with the for profit businesses to keep the prices down.

Statal enterprise doesnt perform well because it's designed to be underperforming.
I don't see any reason why a statal company in a free market shouldn't perform well. There is evidence in the recent past of how can work fine, for example in Italy and Germany in the 30ies, but that wasn't something welcome to the oligarchy.