Thanks for this thoughtful response Tim. Towards the end of the article I lay out the proposal I have in mind, which is keeping everything else as is, and introducing a small universal payment. I am thinking of this as deficit spending, backed ultimately by the central bank buying bonds.

I agree with you about GDP growth as a bad target, and say very similar things in this essay:

“Explaining Bullshit Jobs with Monetary Theory” https://link.medium.com/lEZdkbNwzcb