Thursday, June 29, 2017

Changing Incentives

'In the long run, we will require a justification for the distribution of resources that is not based on job-holding' (Basic Income - Philip Van Parijs) The justification for private property is largely that it is the best system we know of to incentivise people. We don't only live off our own labour. We don't start from scratch. Why do you think people are so obsessed with competitive parenting? If we are lucky enough to have parents or communities who pass something on to us, in the form of money or opportunity, we also benefit from the labours of those in the past. Just being lucky enough to be born today rather than 200 years ago means we benefit from the past. The fight of Hereditary privilege v Meritocracy still has an underlying belief that someone can be paid 'what they deserve' - because of effort, or skill, or any action that rewards the right behaviours. What happens if we get to the stage where human effort isn't needed... it is just wanted? Economics is the study of scarcity. What happens when we move on to the study of abundance?

Hereditary Privilege v Meritocracy v Abundance

Post a Comment