A
Universal Basic Income is a periodic cash payment without means-testing or work
requirement, paid to everyone in a community without conditions. It is paid to
an individual rather than a group, and is not withdrawable. Adam Smith’s
invisible hand was a recognition that much of our knowledge is Tacit. Making
decision several degrees of separation away around a board table loses fidelity.
Just like the children’s game where you whisper a secret along a chain. Trade
releases value when both the seller and the buyer believe they benefit from the
swap. They don’t have to be able to clearly articulate why. They don’t need
someone to represent them. A UBI doesn’t need to be tax funded to meet the
definition. We could build Engines of Capital to power the stream. Managed to
last. Managed to reduce the panic of life’s little (and big) surprises. Managed
to release creativity through spreading Financial Security.
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