Open Project to Investigate Money and Economic Systems

Posts tagged Basic-Income

On Basic Income

:: Basic-Income, Politics, Automation

Critique of Basic Income idea.

Worth considering. Though I’m in two minds. The basic argument against … it could give a token of money whose effect is quickly lost to inflation, while justifying removal of targeted government programs which actually give those in need sufficient. A decent BI scheme would need to avoid this problem.

OTOH … the principle of BI still seems to me to be essential as we move to a world of accelerating automation, where most people with most skills will be effectively out-competed by machines. If we don’t detach “income” from “work” in the long-run then automation is going to lead to catastrophically unequal incomes.