#feasta

@hmbcoastsidechamber @MainStreetGrillHMB #bricfeasta #feasta https://www.instagram.com/p/CaIjh84POIM/?utm_medium=tumblr

Banks create money out of nothing when they extend loans and then charge borrowers interest on this newly created capital. The result is an ongoing multi-billion pound/ dollar subsidy breaking the basic rules of capitalism. What is perhaps even more surprising is that there appears to be no explicit description of the 'bargain' underlying this important arrangement.

Basic financial security should be a right for all members of society, yet our present social-welfare system does not adequately support this right and has many other serious flaws. Anne Ryan explains how a universal basic income would increase everybody’s capacity to cope with financial shocks and uncertainties far more effectively than the current system and how it would also improve general quality of life, while supporting many different kinds of work, with or without pay. by Anne Ryan on April 17, 2013 at 09:38PM via Feasta http://www.feasta.org/2013/04/17/universal-basic-income-a-support-for-intelligent-economies-quality-of-life-and-a-caring-society/