Universal Basic Income (or Capital) plus…

Having highlighted an article from Geoff Crocker I have been investigating his own operated website.

He has a really very good introductory video – which I cannot unfortunately show directly but it is available here at the simple https://www.ubi.org/

I’ve drawn from it what I consider the key points to a Universal basic Income (UBI) and I have itemised below:

Just as we have the ‘right to nature’ and to those things our predecessors created, so we should have the right to a basic income..

Benefits (which UBI would partially replace) are inefficient and often unemployment traps, but of course UBI is universal..

High technology inevitably reduces wages as a proportion of the value of the output produced..

Relatively declining wages then have to be supplemented by household borrowing..

Private debt then collapses producing a financial and further crisis..

UBI creates more scope in the flourishing of human life – shorter working week and thus reduces consumer society – breaks the consumer cycle..

Affordability is a result of what we produce – made affordable by the output in the economy not by the financial balance of the national exchequer..

Money is actually issued by the national sovereign…

Apart from that I’ve previously highlighted that:

In fact even on simple terms UBI is likely to be affordable.

In summary, the linked page is well worth 5 minutes of your time if you have it.

Of course money issued by a sovereign is what many readers would consider the monetary creation that is demonstrated in the ideas of Modern Monetary Theory so we are potentially all on the same page.

But I’d still like to point out some differences I think that we ought to have with both.

First – and I think this is now very well travelled, but still worth repeating, a job guarantee is not the same as achieving full employment.

Second, some Universal Basic Services (UBS), such as, currently and most obviously the NHS, but also quite probably broadband, transport and housing actually reduce capitalist monopolies or/and individualism and allow us all to flourish outside the supposedly (but in fact not) ‘free’ market.

So I suggest that the UBI website is well worth exploring, but I think we should be conscious that there is – and indeed ought to be – additional UBS help available…

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