Posted to Steve Keen’s You Tube Channel in Response to a Poster’s Question: “Is Brexit Bad For the UK Economy”

The only way Brexit can be bad is if austerity is idiotically forced on the economy. Mere governmental stimulus will make it better. Of course that in itself is a fragmented and incomplete policy and quite quickly will result in demand pull inflation as both “human action”/Austrian economic theory and “the fundamental direction of capitalism is up”/Hyman Minsky accurately observed. Supplementing aggregate demand and also simultaneously reducing prices at retail are the book end policies that will basically equillibrate the economy, and yet to actually do these policies with economic intelligence in profit making and monetary economies one needs to administer them with two factors in mind, namely directness and costlessness. A direct monthly monetary gift to the individual a la a universal dividend satisfies those requirements, and a reciprocally gifted discount at retail sale (to the consumer and then back to the merchant who gave it) hits it at the terminal end of the entire economic process….at retail sale. This pair of integrated micro and macro-economic policies are the full, complete and conscious expression of the new economic paradigm that the policies of each and all of the current leading edge economic and monetary reformer’s policies….are merely aspects of. You heard it here first.

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