Guaranteed Income as Quantitative Easing

[JCricket]

Don,
Knee? I tried to google and found nothing definite. I am sure it is a common term over my head. I assume it is a peak followed by a roll off, kind of forming the shape of a knee. Correct?

If so,, I don't think I see it, maybe a leveling off. But I also see our country becoming a manufacturing giant again. Mostly due to chronic global warming changes. I think we will be one of the countries that can best weather that, and thus produce goods for the rest of the world.

[donquixote99]

Knees are seen in exponential curves. Exponential curves show up in all kinds of situations, where you have a sort of compounding change happening, like population growth. What happens is growth seems slow at first, then it takes off like crazy. A sort of informal word for the area when it goes from slow to fast is the 'knee.'

The idea I was suggesting to Finn was that the displacement of workers by machines has been building for a while, but slow growth in the past doesn't mean it won't get real fast in a short time.

Picture shows a mark at the middle of the 'knee' of an exponential curve:

[JCricket]

Got it and then yes. I do see many reasons a "knee" may occur.

thanks!

[Tom Joad]

Here's an interesting article on the subject of a guaranteed minimum income.

https://www.theguardian.com/commenti...l-basic-income

Why do poor people make so many bad decisions? It’s a harsh question, but look at the data: poor people borrow more, save less, smoke more, exercise less, drink more and eat less healthily. Why?

Margaret Thatcher once called poverty a “personality defect”. Though not many would go quite so far, the view that there’s something wrong with poor people is not exceptional. To be honest, it was how I thought for a long time. It was only a few years ago that I discovered that everything I thought I knew about poverty was wrong.

[donquixote99]

Originally Posted by Tom Joad

Here's an interesting article on the subject of a guaranteed minimum income.

https://www.theguardian.com/commenti...l-basic-income

OK, they've found that lack of income makes poor people more stupid, an average of 15 IQ points. So what makes conservatives stupid, so stupid they throw away a study because they just 'know' it's worthless?

Give poor people money, and they act better, like other people with money. Wow!

When you get over the shock, read the link, and get a few details.