Debunking UBI funding schemes

by Serban V.C. Enache

There are a number of people on the internet, supporters of Universal Basic Income or Basic Income Guarantee, who peddle regressive taxation to “pay for” the program. The most common funding schemes you’ll find on the internet consist of: VAT (Value Added Tax) or a Tax on all financial transactions – the latter’s final goal being that of replacing all other taxes. Continue reading “Debunking UBI funding schemes”

Historical and Socialist Views on Immigration

Socialism is NOT Liberalism

by Serban V.C. Enache

In the past, I wrote about open immigration policy being a boon to capital. It’s important to consider both sides of the balance sheet: one country is gaining people, another is losing people. Naive liberals will claim that immigration is great to have in any and all circumstances. Narrow-minded conservatives will argue that immigration is a bane on a country’s health and security. I will completely disregard such delusional thinking, and instead offer what I believe to be a balanced perspective, one that takes into account circumstances – moderation and prudence always being good tenets to follow. Continue reading “Historical and Socialist Views on Immigration”

Trump’s Art of the Deal – Trade Wars

Tariffs are a means to an end

by Serban V.C. Enache

China vowed to counter Trump’s announcement of 200 billion dollars worth of tariffs on Chinese exports to the US. If the US loses less than China, that’s called “winning” in Trump’s view. I have written in the past about protectionism, the Historical School, and the role tariffs played as a policy instrument for the development of manufacturers and overall industrialization. However, I always stressed that context is the ultimate factor in decision making. There is no policy to be followed religiously irrespective of circumstance. Continue reading “Trump’s Art of the Deal – Trade Wars”

Toward a One Korea

The basic steps of reunification

by Serban V.C. Enache

The following article is fairly subjective. Feel free to disagree and criticize.

Necessary context. The Korean peninsula is a buffer zone between China and the United States. While it may come as a shock to most, political elites in North Korea had to manoeuvre both diplomatically and militarily to secure independence, or something akin to sovereignty, from both Washington and Beijing. For the North, self-preservation in this new epoch dictates capital changes to traditional policy. Ditto for the South, who profits in no way from further conflict escalation. Continue reading “Toward a One Korea”

Neoclassical Economics and Domain Assumptions

How the learned practice sophistry

by Joe Blackwell

A recent paper authored by two mainstream neoclassical economists [1], Salomon Faure and Hans Gersbach, has caused quite a stir amongst prominent heterodox economists such as Steve Keen and Richard Murphy. The paper seeks to compare and contrast two opposing models of commercial bank lending behaviour (endogenous money model and loanable funds model). Continue reading “Neoclassical Economics and Domain Assumptions”