Basic Income in a nutshell

Generations of Human ingenuity has been steadily freeing us from labour. This inheritance of leisure is being tapped and sucked to the top by capitalism’s efficiency in cornering capital. Labour is no longer the means of wealth creation, acquisition of capital is.

It’s like Monopoly when the game is all but over and two players are counting furiously and aimlessly around the board while the other players drift away to find something else to do. The only way to generate interest (no pun intended, but I’ll take it,) is to-restart the game. Since labour is no longer the means of gaining wealth, but capital, this means, in our real world scenario, simply giving everyone enough money to start playing the game again. The wealth accumulating at the top can finance this, once the argument put forward by those with the wealth – that it was “earned” by “hard work” and you can do it too by getting up early in the morning – is seen as a false argument put forward in order to protect their dominant position.

I read somewhere online recently, but neglected to bookmark, that the bulk of billionaires’ wealth “created” in the past 50 years is inherited wealth. There’s that concept of inheritance again.  The same source said that there are no great industrialists anymore as such, just wealth managers. (The source was likely from one of the reviews of Thomas Pikkerty’s “Capitalism in the 21st Century”. Maybe this one from the Economist.)

Capital is the only game in town. Or, as George Carlin once put it. “It’s a big club. And you ain’t in it!” Here’s George saying that.

Basic Income Forward

 

 

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