First, saying basic income is socialism is as absurd as saying money is socialism. It's money. It's all it is. What do people do with money? They use it in markets. In other words, basic income is fuel for markets. Markets are a wonderful invention that serve to calculate via a massively distributed computer comprised of . . .
The consequences of our lack of basic income
For those unfamiliar, the above proverb describes the massive consequences that can result from seemingly unimportant items or lack thereof.
I now wish to fashion a new variation of this proverb...
For want of a dollar the bus ride was lost.
For want of a bus ride the job was lost.
For want of a job the . . .
Why every estimate of UBI that simply multiplies the number of recipients by the amount received is simply wrong
Imagine a group of 5 people. They have an income distribution of $10, $20, $30, $50, and $100. Someone gets the BIG idea of everyone putting 40% of their money into a hat, and dividing the result equitably between everyone.
That means $4, $8, $12, $20, and $40 goes into the hat. That's $84 which when divided by 5 is $16.80.. . .
Posted in: cost
How to recognize when an anti-UBI title is "fake news"
The OECD recently published a report on basic income as a policy option for the future of work. It concluded that universal basic income would require large tax increases to avoid increasing poverty. Others have since picked up on the report with headlines like, "Universal basic income would fail to cut poverty, says OECD" which . . .
My proposed funding plan for UBI in the US
The Economic Security Project has just published an article from me on Medium titled "How to Reform Welfare and Taxes to Provide Every American Citizen a Basic Income". It's a more detailed funding plan for a potentially cross-partisan implementation of universal basic income in the United States. For those looking for numbers, . . .
Article on Medium
I published an article last week on Medium titled "Cutting the Gordian Knot of Technological Unemployment with Unconditional Basic Income". It's actually the chapter I contributed to the book Surviving the Machine Age: Intelligent Technology and the Transformation of Human Work in article form, but considering the cost of the . . .
Recognizing what we owe each other
Let's say the cost to produce a widget is $1. What's the cost to produce 1 million widgets?
This may sound like an extremely simple word problem that even some preschoolers could solve. However, if you think the answer is $1 million, you would be entirely wrong.
The cost to produce 1 million widgets is far below $1 . . .