People will always have a hard time understanding universal basic income (UBI) as long as it is presented as an improvement on (or a replacement of) the welfare system. When presented as a fiscal policy, a government spending program, people will, rightly, wonder how it will be funded . But basic income should be understood as part of a comprehensive overhaul of the fiscal and monetary systems, as well as a restructuring of capital and finance. It is not a panacea, I sometimes say, but it is somewhat utopian. It’s a big idea.
First, let the state issue money (i.e., […]
Full Post at secondlanguage.blogspot.com