EconPapers    
Economics at your fingertips  
 

Seigniorage as a Source for a Basic Income Guarantee

Tideman Nicolaus and Kwok Ping Tsang ()
Additional contact information
Tideman Nicolaus: Virginia Polytechnic Institute and State University

Basic Income Studies, 2010, vol. 5, issue 2, 1-6

Abstract: A basic income guarantee should be financed from a source to which all persons have equal rights. One such source is seigniorage, the profit from printing paper money. This article reports real seigniorage, measured in 2009 dollars, for the U.S. for the past 50 years. It averaged about $175 per year per person over the age of 20. Thus seigniorage would not have been a major source for a basic income guarantee. But three caveats are in order. First, a practice of giving every adult an equal share of money would have meant a lifetime, interest-free loan of about $4,000 per adult. Second, the Federal Reserves response to the crisis at the end of 2008 would have meant an additional loan of about $3,400 per adult for the duration of the crisis. Third, a monetary system without fractional reserve banking would probably entail much greater seigniorage.

Date: 2010
References: View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
https://www.degruyter.com/view/j/bis.2010.5.2/bis. ... .1165.xml?format=INT (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:bistud:v:5:y:2010:i:2:n:6

Ordering information: This journal article can be ordered from
https://www.degruyter.com/view/j/bis

Access Statistics for this article

Basic Income Studies is currently edited by Anne-Louise Haagh and Michael W. Howard

More articles in Basic Income Studies from De Gruyter
Bibliographic data for series maintained by Peter Golla ().

 
Page updated 2018-06-18
Handle: RePEc:bpj:bistud:v:5:y:2010:i:2:n:6