This was my reply to a post entitled “Boots ….. etc. For some reason this comment could not be posted on the Modern Monetary Theory blog site on WordPress.
Quote,”All businesses …want a healthy demand for their goods and services. They want paying customers, with money to spend in their pockets.”unquote.
Too true but the economic system as it is currently constructed does not deliver this ideal. The system is a dysfunctional operating system. Minimum wage legislation, pupil premiums for schools that are in deprived areas are merely “patches” and “bug fixes” that attempt to put right an economic system that has economic injustice and unfairness built into its structure. It is an inexorable output of the (economic) system.
What is needed is an economic system that delivers to the lowest paid person to have sufficient disposable income to enable them to pay affordable rents or mortgages and have sufficient income over and above this to remove the stress of struggling to pay the bills.(And remove a contributory factor in the causes of mental illness?)
I have already published my design for an economic system that delivers fairness and economic justice. Perhaps the learned people in MMT should try and design such a system. However, (economic) justice is universal in my view. Economic fairness and justice must apply to billionaires and benefit claimants alike.
POSIWID; The Purpose of a System Is What It Does. 