what the messsi model says about a ubi and fjg
October 20th 2024
The debate between a Federal Job Guarantee (FJG) and Universal Basic Income (UBI) has gained traction as potential solutions for addressing unemployment, poverty, and income inequality. Using the MESSSI (Macro Economic System State Simulator) model—focused on system dynamics and collective behavior within a mixed capitalist economy—I’ve run some initial simulations to evaluate these two policies. Unlike more granular models, MESSSI doesn't distinguish between different industries or social individuals but instead captures the macro-level collective dynamics and how policies interact with the overall system.
Was Albert Einstein right about Economics?
October 3rd 2024
Albert Einstein once said:
"Technological progress frequently results in more unemployment rather than in an easing of the burden of work for all."
The simple question is, was he right?
In my humble opinion, the answer is both yes and no. If one perceives Einstein's statement as static, then yes, it absolutely results in more unemployment. However, if we add a temporal dimension but restrict it to the medium term, it achieves less unemployment. In the long run, as the economy is a complex system, it results in determined chaos with less reliable answers.