In this article published in The Potomac, D. R. Thompson argues that non-financial problems facing the US today, such as energy, environment, poverty, debt addiction, health, and education are all interrelated with financial system and connot be addressed separately. The solution that Thompson provides to this contemporary inter related problems is the creation of a Joint Economic Policy Office and the implementation of basic income. Basic income, according to the author, could be financed through revenues that go to social welfare security and unemployment money and social dividends can get their money from government owing large percentages of the financial system. Then, argues the author, there could be a global initiative of debt forgiveness for all the nations, so that we do not leave the debt for future generations and make them as debt addictive society as we are today. Many would argue that this idea is socialistic, but Thomson has a counter argument, which states that this system would not undermine individuality, and government will have no say in how the basic income money would be spent.
Thompson D. R. (2009). “Emerson Meets Wall Street: Systems Think, the Citizen Dividend, and Economic Democracy.” The Potomac, online at: http://thepotomacjournal.com/np-dthompson999.htm.