Jonathan Swift's Modest Proposal involved starvation and surplus Irish babies. My Modest Proposal involves oil, Panera Bread, market economies and Bitcoin. Let me explain.
Venezuela is a complete mess - which is the ultimate end of all state run economies. I have a modest proposal to put the country back on the right track in just a few easy steps.
Step One - Venezuela sells the state owned oil company. Panera Bread was recently sold for $7 billion. If Panera is worth $7 billion then based upon the 4 economics classes I took in college then Venezuela's oil should be worth at least $17 billion.
Step Two - Supposedly there is a total of $17 billion in Bitcoin circulating on the Internet. Venezuela buys all the bitcoin with that oil sale money.
Step Three - There are roughly 31.5 million people in Venezuela. The government of Venezuela doles out all the bitcoin to each resident over a period of 5-years (60 months). Bitcoin becomes new state currency and each resident gets about $9,000 per month over the next 60 months. Residents under 18-years old could have their funds go into a trust that can be used for college education at age 18 or be given in full at age 21.
Boom! Instant market economy and prosperity! Plus the college degree incentive would help cement success for generations to come. What's not to like?
So let it be written - so let it be done!