Sunday, May 08, 2016

Universal Basic Income

One of the big struggles of the last century has been over how we divide the fruits of our labour. The Communist notion of 'from each according to their ability to each according to their need'. The key driver is of this philosophy is labour. I am very passionate about the idea of a Universal Basic Income. One of the push backs I get is that this is a Communist idea. I think it is one of the most Capitalist ideas I have heard of. The key driver of this philosophy is capital.

A Universal Basic Income has nothing to do with need. It is no strings attached. There is no criteria for who gets it, and who doesn't - hence 'Universal'. It is not a welfare payment. It is a dividend on the common wealth of the world. A dividend on the capital. The heart of Capitalism is that by saving and investing, you can take the fruits of your labour and plant trees. Eventually, the trees will be able to generate far more fruit than you can. You will still be there as the custodian. You will still be able to enjoy the fruits. So will your children. Their children. The difference is that you will have a buffer to decide what you would like to do. So will they. You won't be forced to live hand to mouth. Neither will they.

What a Universal Basic Income does is it releases potential. In the same way support from parents, society or whoever else participated in your success did. It releases the fruits of our capital. It is the rain.

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