One could draw an analogy, perhaps, between negative (real) interest rates (presumably mostly for 'big' borrowers) and the government paying a substantial wage for "leaf-raking" (as the WPA was described by its enemies in the '30s).
Why could not the government hire everyone whose annual income was under (say) $25k, whether 'employed' or unemployed, and pay them at the rate of (say) $40K for working at nothing for (say) 30 hours per week! Don't tell me it's politically impossible. I know that. I offer it as a way of understanding current reality, not as a practical political suggestion. Carrol _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
