The economy has very little to do with the markets. People who study economics from freshman year of college all the way up through graduate school will see that the subject matter being taught should fall nowhere near what one would consider a true definition of the word economics, and what they are really being taught is Markets 101 and above.
For an economy to truly thrive and then prosper, one has to take into consideration the social class, and income levels, of the members of that economy. It is, after all, the People we want to see thriving in the economy, and not just the markets, and not conducting cut-throat, capitalistic, “it's just business” deals within it. Two fundamental things would have to happen.
1) provide a basic income to everyone below the poverty line that is on-par with a family making $50K per year. If the poverty line is set below $50K per year: raise the poverty level to reflect this number. In 2019 it is very hard to thrive in MOST cities with an income below $50K per year.
2) prevent inflation from occurring by making it a priority on the part of the Federal Reserve to see DEFLATION, and not setting deliberate goals to see inflation.
There is more to this as the Money Cycle demands the Federal Reserve keep inflation high so as to pay off (small) portions of national debt, in order to make the central bank richer, all the while increasing the cost of living, which then promotes more borrowing, which then increases the debt higher, and round and round it goes into the Ponzi Scheme that it is.
But I am not going into detail on that cycle right now. What is more to the point, is what can be done both short and long term in regards to bringing about economic growth despite a broken system of centralized fiat currency issuance.
By starting with basic income, you provide one thing that is greater than any other in terms of the financial prioritization and opportunity within the lives of the citizenry – and that is a financial safety net for the individual and his/her family. Nothing promotes more genuine economic growth than safety and peace of mind of the individual who, when presented with an opportunity, decides to either pursue that opportunity, take risk, and invest in ideas or not pursue an opportunity, and not take risks, and not invest in ideas, due to financial tight-roping. A basic income requirement in the United States of America would provide a psychological position of heightened business ambition and financial ambiguity.
The second part of the recipe (lowered inflation (or deflation)) would make it so a basic income can be SET, and a minimum wage could be DECIDED ON, and both of which would be guarded against a rise in prices that would result in (what many believe is inevitable in the current system) hyperinflation, or in other words – paying $20 for a $1 candy bar as the local store, resulting in the citizenry losing faith in fiat currency, and creating a Great(er) Depression.
If there is not a basic income stipulation written into law within the next 10 years with an agreement by the Treasury and the Federal Reserve, wholesale, to make and keep deflation a priority – a Great(er) Depression is likely to occur. If We the People are to pass into law a basic income requirement for all of it's citizenry, we will see an organic economic growth like we have not seen in the United States to date.