Recently, talking about a basic income has become, so to speak, fashionable. The Dutch Bureau for Economic Analysis has calculated the effects of such a basic income, but argued that it would be a bad idea. Without the equations, but with qualitative arguments, I shall try here to explain why a basic income does not bring the benefits we hope to see from it and why the results of the experiments that so far took place are not reliable.
“Sleep is my greatest enemy.” – Reed Hastings, CEO Netflix
With the 2017 Dutch election having come and gone, a new coalition has been formed, with a new government budget. The Dutch government budget can be quite confusing for both Dutchies and non-Dutchies, hopefully this article will clarify its economic impact.
“Congratulations: you have found an American willing to say he is pro-Trump”, dixit Gary Shapiro. Shapiro is CEO of the Consumer Technology Association, representative for over 2000 tech corporates such as Google and Amazon. Shapiro is an advocate of innovation without borders.
During the Financial Crisis of 2008 taxpayers’ money was frequently used to save banks from bankruptcy. In the Netherlands ABN-AMRO and SNS Reaal were bailed out by the government for the staggering amounts of 22 billion and 3.7 billion euro respectively. Moreover, the Irish government came into severe trouble after saving their financial infrastructure from the abyss. These rescues caused governments to take the full blow, resulting in a “free lunch” for banks’ shareholders and bondholders. As a result, taxpayers (and politicians too) were disappointed in and angry with those “irresponsible bankers”.
With a market cap of approximately €87.4 billion and a current all-time high price of €5270 (Wilmoth, 2017), Bitcoin’s price and success seem to be heading through the roof and beyond. While hitting the €1000 mark in mid-January , the price has since increased with almost 430%. Taking into account these extraordinary numbers, the main question arises whether Bitcoin will be the next speculative bubble.
“Blockchain will do what internet has done, 20 years ago.” (Every Blockchain expert, ever)
Last transfer window will most of all be remembered by the transfer of Neymar from FC Barcelona to Paris Saint-Germain (PSG) for the astonishing amount of 222 million euro. Moreover, PSG paid 180 million euro for Kylian Mbappé. Both transfers pulverized the previous record transfers of Paul Pogba, Cristiano Ronaldo, and Gareth Bale, which all were transferred for a fee of approximately one hundred million euro.