Hadn’t heard that name for a while, but he’s mentioned here.
Apparently he’s been busy saving the world himself. He wants to start with Greece, Italy and Spain, and it has something to do with “gold bonds“.
I’ll study it and get back to you. Initially it looks like it has some similarities to what I have proposed, absent those remedial and transition-easing measures, such as a five year moratorium on evictions for non-payment.
That moratorium thing seems to be growing in importance as we think this thing through. You can always tell you’re onto something when a fairly intelligent and informed commenter says you’ve gone “off the rails“.
If we’re going to change the monetary system around, starting with a jubilee – and at this point that’s the proposal not just from me but from Steve Keen and maybe even some others – you’re talking about something that is very chaotic in implementation. The basic problem is that nobody is going to know what anything costs for while. The measures will have completely changed.
In the meantime people need to eat and they need a place to live. They need some stability in otherwise stormy seas. This is what the eviction moratorium is about.
Beyond that, though, I wonder if it shouldn’t be that way always. I don’t think the threat of homelessness hanging over everyone’s head all the time is healthy. It doesn’t lead to good economic decision making; it leads to desperate economic decision making.
So I’m thinking no real estate taxes either. No mortgages, no rent, no real estate taxes. You get a place to live by buying it, and once you buy it no one can take it from you. I think this is consistent with property rights, but also consistent with some of what socialists advocate, though not for the reasons or in the way they advocate it.
You can do things like this with the law. Economists don’t get that. Not even Antal Fekete.