I expect I shall concentrate my efforts on the idea of introducing a Basic Income, without changing our money system.

I’m not closed-minded when people suggest a new currency or a new money system. But when people present their schemes to me, I have to make a judgement about whether I should spend any further time exploring their ideas, when that time might be better spent in other ways — such as on explaining and promoting the idea of a conventional Basic Income system.

I’ve had many people try to convince me that their special idea for a new currency or new money system (etc.) is a good one. But if they fail to present a clearly described plan, fail to use clear, rational arguments and fail to respond intelligently and reasonably to my queries and suggestions, then I think it is probably fair of me to limit the amount of my time I am prepared to spend exploring their ideas further.

To anyone who thinks they’ve got a great idea for a new currency system, money system or economics system (etc.), my suggestion is that they should summarise their thinking in a simple webpage, post or document. I (and others) can then make a judgement on whether it is worth investing more time to explore the idea further.

They should clearly explain such things as

  • how their system would operate
  • why they think it would be a good idea
  • the practical steps involved in introducing such a system

Unfortunately, in many cases, the individual in question does not understand Economics and is unable and/or unwilling to explain and discuss their ideas rationally, intelligently and coherently. Instead of imploring me to believe in their ideas, it would usually be better for them to first spend their time improving their own skills; improving their own general thinking skills and learning about Economics.

I provide all sorts of resources to help people both to learn about Economics and to improve their general thinking skills. And if people want my help, they should perhaps start by making good use of those resources.

Written by

Tech Fan, Philosopher, Economist and Basic Income advocate. tiny.cc/RJMedStuff

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