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    • Introducing
      basic income
    • Making the case for
      basic income
    • Answering the objections
      to basic income
  • The case for basic income:
    1 Social justice
    Everyone has basic rights to
    • nature and its provision
    • the infrastructure and technology we all inherit
    and therefore everyone has a right to
    • a basic income
  • The case for basic income:
    2 Welfare efficiency
    Today’s welfare system
    • is means-tested, so very intrusive
    • is very expensive to administer
    • is a big disincentive to work, as benefits are withdrawn
    • creates ‘unemployment traps’ and ‘poverty traps’
    Basic income is low cost to administer and avoids the disincentive to work
  • The case for basic income:
    3 Economic necessity
    • Today’s high-tech economies achieve high productivity, increasing output more than wages
    • Wages then become insufficient to fund the consumer expenditure we need
    • Filling the gap with consumer credit is unsustainable and leads to economic crisis
    • Basic income creates sufficient demand in the economy, even if fewer people are working
    • Basic income therefore avoids economic crisis and austerity policy
  • Answering the objections to basic income:
    1 Work Disincentive
    • Basic income creates no disincentive to work as taking a job does not lose benefit
    • It’s today’s system which creates ‘unemployment traps’ and ‘poverty traps’
    • Basic income avoids ‘unemployment traps’ and ‘poverty traps’
  • Answering the objections to basic income:
    2 Affordability
    • All consumption and therefore all income is made affordable only by real production
    • An economy which can achieve output can afford to distribute that output through a basic income
    • Budget neutral schemes for basic income are justifiable
    • In high-tech economies, financial deficit is inevitable and can fund basic income
    • A sovereign state can create money to fund basic income without creating debt or causing inflation
  • Think of it like this:

    A huge machine is plugged into the earth to produce all output GDP goods and services

    Since no-one works, these can only be distributed to people by government issued vouchers

    These vouchers are handed in for goods and services

    In this thought experiment…

    1. the total economy’s GDP is bought with basic income (the vouchers)

    2. the total economy’s GDP is a government deficit (again the vouchers)

    The nuanced point is that in high-tech economies, some element of basic income and financial deficit are inevitable