Baby Bonds in UK

Dennis Robert Redmond dredmond at efn.org
Sat Apr 28 09:06:27 PDT 2001


On Sat, 28 Apr 2001, Chris Burford wrote:


> I certainly would not have proposed it myself, but I think it is ingenious,
> and paradoxically provides new terrain that progressive people can fight on
> to make the system of production socially responsible.

Well, the Continental countries already have pretty extensive programs of child-funds, where households get a cash payment every month for each child. Ducking the issue by issuing debt is a poor second to this; during any sort of downturn, a conservative government could hack the program to pieces.

There's the same problem with stock option socialism -- a bunch of small individual holdings doesn't challenge the power of capital to do whatever it wants. It might have some limited applications in the case of a powerful developmental state, backed by class-conscious pension boards elected by workers, but we can't all be lucky enough to live in Scandinavia.

-- Dennis



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