A Basic Income Should Be the Next Big Thing
The Fed engineers a slow inflation every year via interest rate control and gives the benefit of the newly created money to banks, the loan borrowers, and asset holders as rates lower than keeping inflation at zero.  Since the money supply increases anyway, might as well give the new money as basic income to ALL people.  At least the money will be spent directly by the people for economic activities, instead of indirectly via the loans and asset inflation.<p>The Fed can raise interest rate to shrink the money supply for banks and borrowers while give more direct cash to expand the money supply via basic income.  This can be in addition to the government&#x27;s budget spending on basic income.<p>An interesting outcome is the deflation of the asset bubble as rate increases.  The money supply expansion via direct cash counters the deflation in economy.  This should reverse the trend of the great wealth transfer to the asset holders in the last 20 years.