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RE: The Expanse's Basic Support vs. Basic Income

in #basicincome7 years ago

Please take the time to read this other article of mine: https://medium.com/basic-income/wouldnt-unconditional-basic-income-just-cause-massive-inflation-fe71d69f15e7

Also, basic income is just basic income. We can fund it in all kinds of ways, including land value taxation. Hell, it doesn't even require taxation at all to fund. To see how I'd fund it, please read this plan: https://medium.com/economicsecproj/how-to-reform-welfare-and-taxes-to-provide-every-american-citizen-with-a-basic-income-bc67d3f4c2b8

By the way, free anything destroys the markets for those things. Money to pay for housing is great for those employed by housing. Free housing is not.

I suggest reading more about basic income to become better informed of the applicable evidence.

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Also, basic income is just basic income. We can fund it in all kinds of ways

There is only one way to fund it. And that is as I stated in my reply.

Where does food come from? It comes from people who grow or forage for food.

If you give food to people, where does the food come from? There is no magical supply of food you can just print more of. You have to get it from the people that grow it. There is no other place! No matter what you call it. Property tax, income tax, land value tax, it is taken from those who grow it.

free anything destroys the markets for those things

You said it yourself. Free money destroys the market for money.
So, what use will basic income be?

I suggest reading more Austrian economics books.
https://mises.org has lots of the best, and many of them are free to download.

Do you know who Friedrich Hayek was? He was Austrian School. Did you know he supported basic income? Do you know why? Look it up.

As for where food comes from. 1.1% of all our national labor goes to food production. It is almost entirely made by technology at this point, with relatively little human labor. It will soon be fully automated, as will a great deal of other labor. What then?

If machines are making our stuff, and the only way to buy their stuff is with money, but money requires outcompeting machines, how does stuff get bought? If stuff can't be bought, why make it?

Markets require money to function. That's how demand signals are sent. Demand is met by supply. The interaction determines what is produced, using what, how much, where, for whom, etc.

Free stuff destroys markets. Money feeds markets. This is actually why food stamps were first created. Handing out free food, literal handouts, were hurting businesses. Buy providing food stamps, people would spend them in markets on what they wanted.

Hayek and Mises are a far cry from Menger and Konkin. Guess which ones took a big, fat check from the Rockefeller Foundation? Wonder if that has anything to do with their dogmatic worship of gold or support of Keynesian stimulus?

The Austrian School is not a monolithic entity.

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