Yanis Varoufakis and his ‘Another Now,’
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In my blueprint, central banks provide every adult with a free bank account into which a fixed stipend (called universal basic dividend) is credited monthly. As everyone uses their central bank account to make domestic payments, most of the money minted by the central bank is transferred within its ledger. Additionally, the central bank grants all newborns a trust fund, to be used when they grow up.
People receive two types of income: the dividends credited into their central bank account and earnings from working in a corpo-syndicalist company (mending corporate law so as to turn every employee into an equal though not equally remunerated partner) Neither are taxed, as there are no income or sales taxes. Instead, two types of taxes fund the government: a 5% tax on the raw revenues of the corpo-syndicalist firms; and proceeds from leasing land (which belongs in its entirety to the community) for private, time-limited, use.
[John Lewis meets Henry George?]All trade and all money movements between different monetary jurisdictions (eg the UK and the eurozone or the US) are denominated in a new digital accounting unit, called the Kosmos. If the Kosmos value of a country’s imports exceeds its exports, it is charged a levy in proportion to the trade deficit. But, equally, if a country’s exports exceed its imports, it is also charged the levy. Another levy is charged to a country’s Kosmos account whenever too much money moves too quickly out of, or into, the country – a surge levy of sorts that taxes the speculative money movements that do such damage to developing countries. All these levies end up as direct green investments in the global south.
I was about to send in a comment saying what a dreamer, then I read the whole article. I think it ( and his book) deserves a more detailed and considered reply as he starts off putting the same question to single issue campaigners are we do — don’t you ever think about a society in which you wouldn’t have to protest without end? — and attempts to outline an alternative to capitalism ( as we know it).
I see he has come out as a “socialist” even though as that contradiction a “market socialist”. Must get hold of the book anyway so it can be reviewed.
More from Varouflakis. Now he wants an independent Scottish poond:
History does indeed seem to be moving backwards. Or at least some people want it to.
Another article by Varoufakis promoting his proposed reforms, a return to the two Roosevelts
https://www.commondreams.org/views/2020/09/28/redistribution-games
According to to our Greek friend to be an “Independent Nation it is necessary to have an independent currency”. The logical conclusion is therefore, that the Irish Free State never existed and The Irish Republic came into being on 30 March 1979, when the Irish Punt became subject to an exchange rate. I would expect that celebrating the 30th March will be a big date in the Irish National Calendar following that revelation.
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