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Date: 2024-02-24 Page is: DBtxt001.php L0700-II-BASIC-INCOME


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Basic Income
A possible solution to the problem of inadequate income because of too few jobs. A key IDEA that might help make the world a better place
A basic income (also called basic income guarantee, citizen's income, unconditional basic income, universal basic income (UBI), basic living stipend (BLS) or universal demogrant) is typically a form of social security or welfare regime, in which all citizens (or permanent residents) of a country receive a regular, liveable and unconditional sum of money, from the government. The recipient is not required to work or look for work, and the payment is given independent of any other income
What is Basic Income? What is Guaranteed Basic Income?
From Wikipedia:
A basic income (also called guaranteed basic income, unconditional basic income, Citizen's Income, basic income guarantee, universal basic income or universal demogrant) is a form of social security in which all citizens or residents of a country regularly receive an unconditional sum of money, either from a government or some other public or social institution, in addition to any income received from elsewhere.
An unconditional income transfer of less than the poverty line is sometimes referred to as a partial basic income.
Basic income systems that are financed by the profits of publicly owned enterprises (often called social dividend or citizen's dividend) are major components in many proposed models of market socialism.[4] Basic income schemes have also been promoted within the context of capitalist systems, where they would be financed through various forms of taxation.[5]
Similar proposals for 'capital grants provided at the age of majority' date to Thomas Paine's Agrarian Justice of 1795, there paired with asset-based egalitarianism. The phrase 'social dividend' was commonly used as a synonym for basic income in the English-speaking world before 1986, after which the phrase 'basic income' gained widespread currency.[6] Prominent advocates of the concept include Philippe Van Parijs, Ailsa McKay,[7] André Gorz, Hillel Steiner, Peter Vallentyne, and Guy Standing.

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TPB/TVM commentary: Basic Income
Something like basic income is going to be an essential link in the chain that is required to make the modern global socio-enviro-economic systems function.
Something like basic income is required so that everyone is in a position to make the exchanges they need in order to buy what they need to live ... and indeed to have a decent quality of life.
The modern socio-enviro-economic system is fundamentally different from the system that existed when Adam Smith argued for a market economy. In the latter part of the 18th century the people of the world were faced with shortage. There was not enough of almost everything and it was a struggle to live. Productivity was low. There was not enough of land. There were not enough people to work in agriculture and production, and too many people to feed and clothe and house!
In the modern socio-enviro-economic system, things are very different. There are plenty of goods and services because productivity has been improved by an enormous amount. Where it once took more than 90% of the population to work in agriculture to produce the food needed, in a modern society less than 3% of the population works in agriculture. Where it once took hundreds of miners to produce a ton of coal, the same work is now done by a single person. Where it once took months to circumnavigate the world, it can now be done in a day. The equilibriums that existed in the 18th century are not the same in the 21st century, yet much of the understanding about the way the economy works seems to suit the 18th century better than the 21st century.
Where there once was a shortage of labor, in the modern world, there are more people than jobs, and this mismatch is likely to get bigger over time.
The reason people need jobs is to have income so that they can pay for what they need.
It is the income that people need. The jobs are only a means to an end.
It is worth noting that in the past the role of the workplace as a part of a social community should be taken into account when rethinking how the socio-enviro-economic system can be improved. Less jobs should not mean less social interaction.
TPB/TVM commentary:
Key problem with Basic Income is that it is almost certainly impossible to finance using conventional finance. A basic income almost certainly cannot be financed using the conventional money constructs that have been the norm for the last century and more.
Within the financial community the money construct has changed relatively frequently as the 'financial experts' tried to figure out how to make money serve economic needs and improve performance. There have been many innovations over the years including more and more regulation of how money must be handled. Some of these include ideas like: (1) the Gold Standard; (2) Fiat currency (3) Central Banks to control currency; (4) Quantitative Easing; and many others (See L070-MX-MONEY-EXCHANGE)
The solution may be in the recognition that socio-enviro-economic progress and performance is accomplished in a more complex manner than the simpler but incomplete idea of economic progress using metrics like GDP, corporate profit and stock market prices. Instead progress and performance should be based on the idea that people have a better quality of life and that this is achieved with sustainable exploitation nature / the natural capital / the natural environment.




History of Basic Income
A way to address people's need for income

Published by BIEN (Basic Income Earth Network)

History of Basic Income
A way to address people's need for income
Published by BIEN (Basic Income Earth Network)
Open L0700-II-BASIC-INCOME-some-history
History of Basic Income
The idea of an unconditional basic income has three historical roots. The idea of a minimum income first appeared at the beginning of the 16th century. The idea of an unconditional one-off grant first appeared at the end of the 18th century. And the two were combined for the first time to form the idea of an unconditional basic income near the middle of the 19th century.
Open file 12220 Open external link
Raw text of this section about Basic Income
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A comprehensive bibliography about Basic Income
USBIG-Basic-Income-Guarantee-BIG-Bibliography ... about 60 pages
Open PDF ...

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Open PDF ... Efficiency-Argument-for-BIG
Open PDF ... Many-Faces-of-UBI
Open PDF ... Mersland-and-Thøgersen-Stimulating-economic-growth
Open PDF ... USBIG-Basic-Income-Guarantee-BIG-Bibliography
Structural Unemployment ... Idea ... Basic Income
Overwhelming Evidence that a Guaranteed Income Will Work
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Structural Unemployment ... Ideas ... Basic Income
What Would Happen If We Just Gave People Money?
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Structural Unemployment ... Ideas ... Basic Income
What Would Happen If We Just Gave People Money?
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Creative citizen, creative state ... The principled and pragmatic case for a Universal Basic Income by Anthony Painter, Director of Policy and Strategy, the RSA and Chris Thoung .. a 37 page paper with a foreward by Matthew Taylor, December 2015
Open PDF ... RSA-basic-income-Creative-Citizen-Creative-State
Basic-Income-Guarantee-BIG-US-What is BIG.pdf
BIG Bibliography ... a list of more than 2000 books and articles on the Basic Income Guarantee.
' is BIG.pdf'
Open PDF ... Basic-Income-Guarantee-BIG-US-What is BIG
Systemic Unemployment ... Idea ... Universal Basic Income
Charles Murray ... A Guaranteed Income for Every American
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Ideas ... What is Universal Basic Income?
Video ... What is Universal Basic Income?
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Ideas ... Unconditional Basic Income
Why Should We Support the Idea of an Unconditional Basic Income? ... The principled and pragmatic case for a Universal Basic Income
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Personal Finance ... Universal Basic Income
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Jobs/ Unemployment / Income ... Basic Income
The Panama Papers prove it: America can afford a universal basic income ... If the super-rich actually paid what they owe in taxes, the US would have loads more money available for public services
Burgess COMMENTARY: I wish this was so ... but it is not. Universal basic income cannot be funded in a meaningful way by the economic / financial system as we know it. The experiments referred to in the article are very small both in terms of numbers of people and amounts being paid. However ... banks do have a version of universal basic income for themselves, and it is possible that such a system ... the fiat money system and the fractional reserve system ... could be replicated to work for society in much the same way that the finance system works for banks. Blockchain technology may be the foundation for such an innovation. Peter Burgess

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The text being discussed is available at
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