‘Modern Monetary Theory’ is a startling paradigm shift which seems to be gathering some influential followers. It’s a favorite of new radicals like Alexandria Ocasio-Cortez’s Jeremy Corbyn (who, I guess is actually an old radical, in that he is old, and also an OG-radical from the ’80s.)
See here, and here (I don’t usually link Business Insider stories, because they have always felt a bit ‘click-baity’, but the bullets here are pretty succinct)
Sounds like with the money taps on full power, wealth will be continuously evaporating and only those with the most IQ at their disposal (mostly synthetic) will be able to continuously resupply. I suppose if with UBI we have a floor that stops the poor falling too low, then this would be a seething, volatile, boiling layer of potential breakouts making end-game runs to off-planet style mega-wealth…
I like terrestrial real estate, as a long-term investment; the concept of land ownership goes further back than money, 6K BC vs 600 BC (coins), so it might survive a deeper peeling back of social niceties post-catastrophic collapse. I also see the economy needing stable reserves of value other than Bitcoin to regulate the volatility of all that cash perpetually transpiring up, and sublimating off, the Magic Money Tree.
