I support this idea, at least until we develop a more functional
resource-based economy. Eventually, money will be phased out
completely. But that will be gradual over the next century as more
people recognize it’s unnecessary, and as more are displaced by
technological unemployment. Those who think money is a motivational
mechanism are merely projecting their own limited beliefs. If it
never existed, it’s not like everyone would just be sitting around
doing nothing! And those worried about where the money will come
from simply don’t know that it doesn’t actually come from
anywhere! It is mostly just created in computers, with a tiny
percentage of it being physically printed anymore. Knowing this is a
big key to switching from a scarcity-based mindset to one of
abundance. (It also dramatically changes how you see taxes, but
that’s another subject.)
In order for a basic income to serve any meaningful purpose though, it must be sufficient for people to afford basic necessities. One of England’s proposals is the equivalent of giving adults less than $100 a week, which is pathetically inadequate. A common US figure being considered is $1000 a month, which is slightly better. But this is still a pittance compared to what many currently use, and what is actually possible given that money is simply created with a few keystrokes, and doesn’t need to be taken from some people to give to others (like many have been led to believe).
It’s important to recognize that a basic income is a temporary solution, as a monetary system is ultimately unsustainable. If you think about it, issuing money does not address the COST of goods and services. You could give everyone $1 million every month, but the prices of everything could just be increased accordingly to compensate for that. A paltry bag of lettuce could then cost $10,000, an average car could be $10 million. That would render such a seemingly generous income to the exact same purchasing power you already have. And if you think those prices are ridiculous, just look at Zimbabwe’s hyperinflation where everyone is a billionaire! Yet they are still impoverished because their food also costs billions of arbitrary units.
So eventually money will disappear altogether. But in the meantime, it is so ingrained into enough peoples’ minds that a basic income is a perfectly understandable stepping-stone, as long as it is a sufficient amount. And the current manufactured crisis is causing more countries to finally start accepting this age-old idea championed by the likes of MLK and Gandhi. Appearing in more mainstream media every day, it seems this will actually come to pass relatively soon!
In order for a basic income to serve any meaningful purpose though, it must be sufficient for people to afford basic necessities. One of England’s proposals is the equivalent of giving adults less than $100 a week, which is pathetically inadequate. A common US figure being considered is $1000 a month, which is slightly better. But this is still a pittance compared to what many currently use, and what is actually possible given that money is simply created with a few keystrokes, and doesn’t need to be taken from some people to give to others (like many have been led to believe).
It’s important to recognize that a basic income is a temporary solution, as a monetary system is ultimately unsustainable. If you think about it, issuing money does not address the COST of goods and services. You could give everyone $1 million every month, but the prices of everything could just be increased accordingly to compensate for that. A paltry bag of lettuce could then cost $10,000, an average car could be $10 million. That would render such a seemingly generous income to the exact same purchasing power you already have. And if you think those prices are ridiculous, just look at Zimbabwe’s hyperinflation where everyone is a billionaire! Yet they are still impoverished because their food also costs billions of arbitrary units.
So eventually money will disappear altogether. But in the meantime, it is so ingrained into enough peoples’ minds that a basic income is a perfectly understandable stepping-stone, as long as it is a sufficient amount. And the current manufactured crisis is causing more countries to finally start accepting this age-old idea championed by the likes of MLK and Gandhi. Appearing in more mainstream media every day, it seems this will actually come to pass relatively soon!
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