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From Basic Income to Social Dividends: Sharing the Value of Common Resources


#1

From Basic Income to Social Dividends: Sharing the Value of Common Resources

Rajesh Makwana

Few debates highlight the many complex issues around how governments should share a nation’s wealth and resources as much as the current discourse on basic income. Also referred to as a citizen’s income, the policy generally refers to the unconditional and universal payment of a regular sum of money to a country’s residents, usually as a replacement for a range of existing state benefits such as pensions, child allowances, tax credits and unemployment payments.


#2

Now that basic income is something that would probably be a boost to any economy and i wouldn't mind paying for.

Whoever doesn't want to work or enjoy what they are doing can stay out of the workforce. That way people who want to have jobs can work without having to pull the weight of the slackers and whiners that we all know we have in our workplaces. Productivity will skyrocket and people would be paid decent wages as the labor pool would be diminished.


#3

Lots of words and ideas.
Here is a simple solution, take the money from the .1%, distribute it evenly around the world, make an international law that says that no one can have more than twice as much as anyone else.
IE: STOP THE GREED ! MAKE GREED AS ILLEGAL AS MURDER.... SINCE SOMEONE HAVING MORE THAN THEY NEED WHILE OTHERS DIE OF STARVATION IS TRULY A CRIME AGAINST HUMANITY !


#4

The basic guaranteed income would also allow more jobs to be part-time and help many fund their own small business efforts. "Leisure" isn't just sitting round watching TV. Leisure is the work you do because you love it, whether carpentry, fine art, cooking or caring for others. More people would have the time to do these things instead of slaving away and soul-killing dead end jobs. The system of wage work with really began in the late 19th century has outlived its functionality due to population growth and technology. The Minimum income is needed.


#5

Not gonna work out for me. Quick search shows that total world wealth is 230 trillion. Divided evenly that would be about $34000 for each. Less than i make right now. And what would be do the second year when we run out of the 34k? Also, let's think about it this way: if my boss would only have $34k in his pocket how is gonna buy the raw materials needed for me to perform my job?

Nah, i'll go for the guaranteed income and stay outta people's way solution.


#6

I don't understand how income supplementation based on resource rents is compatible with environmental protection, in so far as fossil fuels and other dangerous extractions are concerned.

If those are necessary to provide the funds for the scheme, how does that jibe with the necessity of ending them to protect the planet?

But beyond that, we're talking about "income", and obviously, "money".

I'd like to see a serious discussion of how to structure an economy without a medium of exchange, one that isn't defined by the purchase of goods and services, but by a collective and collaborative process of distribution based on the specific needs of each of us.

Put simply, I'm referring to the whole "From each according to her talents; to each according to his needs" thing.

The bottom line for me is the moral imperative to ensure that every single one of us has the means to live a dignified life

And I can't see how the bottom line on the ledger sheet has any place in that future.


#7

Problem with that is, that there's not enough talent and too much need. Unless there's someone that decides what everyone's need is, and we know how that played out.


#8

Simplistic beyond rationality. It's as much about access to INCOME and static wealth. And remember, these numbers are for ALL humans, regardless of age. So if it were apportioned by household, the numbers get MUCH better.

My "quick search" revealed an additional US$13,000 per person per year in average Gross World Product. Right now nearly all the "disposable" GWP ends up in the hands of the 1% (and more like the 0.01% or even the 0.01% but we'll settle on the 1% for this thumbnail scrap).

In some economies, $13k per year would buy a lavish standard of living, while in the US it barely meets the poverty line.

And remember, that $34,000 "wealth" would not be stuffed in mattresses world wide. It would be in BANKS, earning interest and still available for loans for home mortgages and commercial ventures. The only change is that half of all wealth would not be held by the 1%. Half of all wealth would be held by the 50%.


#9

Also that "wealth" is not cash available for "redistribution". It includes fixes assets and i guess stocks. Not sure what i would do with $34k of GM, probably sell it to Warren Buffet so would most people (actually that won't work cuz he's only gonna have 34k available to spend) and we'll be right where we started. So the redistribution scheme won't really work.

Let's just go with the basic income idea and pay people to stay out if the way if they don't feel like doing what they are currently doing and we'll be much better off.


#10

It's "available" for redistribution, as many $trillions are stashed in untaxed offshore accounts. Only by the magic of shadow bank accounting are these funds pretending to backstop illiquid capital infrastructure. Stocks, bonds etc are "valued" based on the greatest fool premise, so in reality have no value beyond what people believe it to have.

The fact the US debt/GDP ratio is far over 100% shows that the fractional monetary/banking system is corrupted and more resembles a Ponzi scheme than rational economics/finance.

Redistribution would not happen overnight, as it would irreparably collapse the system which would have to be modified to divert the wealth and pay for wage increases for workers and social benefits/services, as smoothly as the modifications to allow the return of the Age of Robber Barons (eg repealing Glass-Steagal) stole the wealth the workers created.

The alternative is a decapitation of the current system, which may involve actual guillotines if the 0.01% class waits too long before agreeing to share the wealth. Not my first choice, but if the 0.01% expect the 99% to suffer through a nuclear WW3 so they can retain their privileged positions, the 0.01% and their 0.01% political/corporate/militarist enabler class may be in for a surprise.


#11

Yeah, I bet you gonna get it right this time....


#12

Please! why does everyone refuse to see the wood in the trees?
There is one, and only one, cause of all our economic woes. During the early 1900's our stupid/corrupt politicians signed away our Sovereign "rights" , that allowed us to print and issue our own interest free, debt free money; and since then we have all become "debt slaves". Our rights to print and issue our own money out of thin air were ceded to private banking Corporations, thus now, we borrow all our money from them, and they simply print it out of thin air, and charge us interest for the privilege. Given the nature of our economic cycles, the booms and busts, it is virtually impossible for us ever to repay all such debts, especially since, when they print our borrowings, they do not also print the money to cover the interest repayments. This particular economic consequence was recorded centuries ago in the well known fable about the boy who possessed a goose that laid "golden" eggs; he sold the goose for a paltry sum and forever thereafter he was destitute.

The remedy for our problems is simple; we abrogate any agreement previously made, reclaim our Sovereign "rights" to print and issue our own debt free interest free money.

This will enable us to stop income-taxing of individuals; we may pay everyone that needs it a social wage, based on a break even computation, this will eliminate poverty and deprivation; those in receipt of the Social wage will be encouraged into employment, without loss of this Social wage, and to work for any employer for additional income, mutually agreed between them. this gives control of work and income to the "workman". Employers will gain a workforce of people willing to accept much lower wages than previously paid, thus making the employer production cost significantly lower; plus, the employer no longer collects taxes for the Government. The employer Corporation/business will pay tax annually as usual. The collection of V.A.T. or G.S.T., consumer taxes will cease.

All Government expenditures will be provided by the planned issue of our own debt free interest free money using legislation approved by Parliament. Health, Education, University courses, Infrastructure of all kinds, etc. etc.

Provided that all of these expenditures are actually "spent" into circulation they will not create inflation; inflation will occur, for instance, when too much money chases too few "goods". The Government must own and run it's own Bank, just like the original Commonwealth Bank. No Private Bank or Corporation will be permitted to create money, under any guise; our financial system will revert to one of "sound " money. Sound money is that which turns around sound borrowing and lending, controlled by being liquid cash, backed by the ownership of assets, and strict criteria keeping them in balance; borrowing and lending outside of these criteria, characterised as "high risk", will be permitted between parties willing to accept such risk, and then, only when it involves their own wholly owned assets.

Interest rates in the private sector will be set by the private sector. The floating exchange rate will be converted into "fixed" rates decided by Government, and as decided between Sovereign Nations and embodied in trade agreements. Our currency will not be traded on "Exchanges", our Nation will be immunised against the manipulated predations of the "Market".

The foregoing explains the broad brush strokes involved, but in summary we would have a Nation with little or no foreign debt, a Nation whose domestic economy sits on a solid unshakeable base, a Nation better able to compete in the wider World, a Nation without poverty whose peoples are empowered to think and work for themselves, a Nation rescued from the avarice of the "Money Lenders", and above all, a Government able to be free and Independent, instead of being owned by Corporate money and influence. This is named "The Universal Economy" because it will operate anywhere.

For those who doubt the efficacy of this proposal, I suggest they study the United States example. The clever banking Corporations engineered the U.S. dollar to be the Worlds reserve currency. Ever since the U.S. has been printing money out of thin air, the only Nation to do so, now they have military bases in more than one hundred and seven Nations, they have engineered regime change and wars in countless Nations, and recently have printed trillions of dollars, called quantitative easing, and poured it into foreign banks and financial Institutions trying to prevent the next meltdown; but it is not working because their printed money was not spent into circulation, instead it inflated the prices of shares and real estate, the bust cometh.