While this isn’t inherently a bad idea, in the current situation it’ll only make things worse.

The reason it won’t work is that rising productivity is occurring that economists can’t (won’t?) measure due to tools over 100 years old being misapplied to a modern economy that is no longer subsistence-based, so they will be treating the wrong problem.

In short, then, negative interest rates will just mean a lot of people will withdraw their money from banks and store it under their mattresses.