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Did you know that the natural level of interest rates is zero?
Warren Mosler may disagree, but if we were capture all land rent, land prices would also be zero – and we’d then abolish all inflation in one fell swoop.
That would enable us to have a universal income which would replace all pension-type transfer payments!
Stephen Zarlenga collated Henry George’s thoughts on money here. George was a ‘conservative Greenbacker’ and supportive of MMT before it got its first ‘M’.
What a different, functioning economy we might have, working to reduce private debt – and abolish monopoly super-profits!