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Title: Off His Head: A Silly Plan to Replace the Welfare State
Review: No serious economist would take such a proposal, well, seriously. In short, Murray's argument is foolish.Inflation would eat up the redistributed $10,000, and, unless the "gift" money were indexed to inflation, that $10,000 would be worth about $100 in a couple of years. Inflation would come in many forms: higher rents, higher food and fuel bills, etc. For example, an important reason for a food stamp being a food stamp is not just to ensure that the money is spent on food, but also to ensure that more paper money isn't loosed upon the economy causing unforeseen inflationary pressures. Food stamps do not cause inflation; Murray's program most certainly would.Buy the book if you want, but be sure to brush up on your economics as you read this absolute and utter nonsense.
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