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jox
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Radical Stupidity: Academics Endorse $20,000 Income for Everyone, Working or Not - Mish - Global Economic Analysis

The same arguments were heard when workers asked for 40 hours/week or for paid holidays. It was 'unrealistic', 'impossible', 'radical' and so on.

Due to automatisation and globalisation, occidental countries will NEVER return to full employment situation. It is very important that our societies find new economic models, redistributing work and wealth. We have 3 possibilities: Limit social welfare (called entitlements by some rich people), wich will end in revolution; continue with welfare, wich will end with a class of pariah people, a kind of feudalisation; or take a brave decision for redistribution of wealth, in form of Basic Income (perhaps not $20.000).

Some years from now we will be in war or we will have Basic Income economy, a blooming society of culture, leisure and sport, made possible by the advances of technology. A paradise or a hell, we have to choose. But I see the reaction of people suposedly intelligent like the author of the article (radical stupidity?), and I am very pessimistic. Once again in history of mankind, a significant change of society will only be possible AFTER the revolution and bloodbath.

Commented 3783 days ago

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Beginning of the headline :If you made less than $20,000 annually, but were guaranteed $20,000 whether you worked at all, would you work? Most wouldn't. And it should be obvious why: People like free time and they would gladly take more of it if they got paid for doing nothing (about $9.61 per hour). Academic Wonderland Academics in wonderland need some remedial education because they have not figured out what should be blatantly obvious. Please consider Guaranteed $20K income for all Canadians endorsed by academics... Read More

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