Universal Basic Income

Scott Santens, has been researching and advocating for the concept of unconditional universal basic income (or UBI) since 2013.

[GhostOnTheHalfShell]

One thing to note with UBI is the need for non-market entities in the market place (see Business Interest wrt to housing). It's not exclusive to housing, the same can be applied to internet/web-access, power, water and to secured local food supply.

A sufficiently large non-profit community owned (coop/church/non-profit) segment to housing etc prevents exploitative pricing. Vienna's social housing is a case in point.

So I would suggest non-market entities are just as important because the stabilizing and maintain a low cost of living.

Margrit Kennedy: Interest and Inflation Free Money -- Margrit Kennedy (you can find it online) discusses how monopoly or oligopoly in housing can be prevented in the case of the wealthy looking to kept their hoard of value by hogging property (something we are afflicted with now)

[GhostOnTheHalfShell]

Steve, how about a banana? It's iconic for tripping people.

[paulcardin]

Message for Scott: I always thought 'income' was a financial payment in return for your work. This would be in the form of wages or pensions. But it also includes property and dividends. Fair enough. But how can UBI ever be defined as an 'income'? There appears to be no exchange of labour in return for the money awarded. Here's a standard definition of income from Investopedia: "What Is Income?
Income refers to the money that a person or entity receives in exchange for their labor or products. Income may have different definitions depending on the context—for example, taxation, financial accounting, or economic analysis.

For most people, income means their total earnings in the form of wages and salaries, the return on their investments, pension distributions, and other receipts. For businesses, income means the revenues from selling services, products, and any interest and dividends received with respect to their cash accounts and reserves related to the business.

Economists have different definitions and ways of measuring income. Whether their studies involve earnings, savings, consumption, production, public finance, capital investment, or other related topics and subtopics, their concept of income will correspond to the purpose of their research. While the measure of income on a macro level is critical to societal and policy studies, individuals are more focused on their personal and business income."

[crispyzombieanimation]

My thoughts on the UBI is the governments wont enact a UBI till something like a major crisis goes down.

[tomcrusader]

Steve is just very good an mountains climber !!!!

[Thedeepseanomad]

If astroid mining becomes a thing, we better set up open sourced organizations to mine some of them them as commons in a sustainable and organized way.

We could have a private sector of the astroid belts that is tax-free (perhaps up ubtil a certain tonage extracted/sold) a commons tax free sector, and a global admin sector.

[GhostOnTheHalfShell]

alight now. I can catch up to the fist hour. Brilliant show, folks! and Ty, drop the fake background. ;) you don't fit in anymore. =D

[efortune]

One argument for UBI, for an income to be decoupled from work, is that computing power is accelerating at an exponential pace and that automated technologies and AI etc. have been and continue to make more and more jobs obsolete at a pace faster than new jobs are being created. And people without jobs make bad consumers because they will have no income. Robots also make bad consumers. So after decades and decades of technological unemployment who will buy all the stuff the robots are making?

Economics it seems is stagnating and is in need of evolution. As Manfred Max Neef once said,

"All sciences have shown a permanent evolution. Economics is the only exception where problems of the twenty-first century are supposed to be interpreted, analyzed, and understood using nineteenth century theories."

Should a future of ultimate automation and technological unemployment be a future where "income" is decoupled from work? Are people ready for this level of freedom?

[MichaeldeSousaCruz]

19:00 “UBI in Alaska”… right… Hey Scott, is there still poverty in Alaska??? From the 2021 census bureau 10.4% of Alaskans STILL live in poverty, 36.6% Kusilvak Census area!!! ARE YOU SERIOUS?!?!?

[MichaeldeSousaCruz]

46:00 “What we should be doing, just trust people to buy what they feel they need most” 😂 TRUST ME, SCOTT!! You give me a UBI, I’m buying more shares of stock!! And not only me. My family!!! My friends!! Heck, you want creative??? I’m going to set up a group to help people buy more stock with that UBI. And I’m an Modern Money Investor now, we know exactly how the market works, so we’ll just take your money. Give me UBI, I’ll buy more and more shares! Trust me, I will, and so will all the people I know.

[MichaeldeSousaCruz]

1:31:07 Elon Musk, through his Corporation, is an Agent of the Government. EVERY Corporation is an Agent of the Government. The Government decides the rules a Corporation follows. The government decides what a corporation can and can’t do. The government determines whether or not a corporation exists or not. Once you realize this, everything becomes more clear about what we, as a people through our government, do with our agents, banks and corporations. C’mon now. Teddy Roosevelt knew this, you deserve to know it too!

[MichaeldeSousaCruz]

Look, my biggest question for you Steve and Ty is HAVE YOU MODELED A UBI IN MINSKY???
Too much talk, we need substance.

[MichaeldeSousaCruz]

1:26:24 Daniel, please, more disrespect and more devil’s advocate. And read Mark Johnson since you’re a philosopher.

[kensho]

UBD = "Universal Basic Decency".

[MichaeldeSousaCruz]

1:30:40 Scott: “just a welfare thing” Scott, how dare you belittle a principle of our US Constitution like the Libertarian to Fascists have been doing for 50+ years?!?!
“Promote the General Welfare”
It’s in our Constitution, it’s a founding principle of what it means to be AMERICAN! How dare you speak disparagingly of the word Welfare? That’s UnAmerican! Exactly what the Authoritarians (Libertarian to Fascists) say! How dare you! Shame on you! Shame!

[MichaeldeSousaCruz]

44:12 “Interfering with the market dynamics”???? Sounds like the INVISIBLE HAND at work there 🤣😂 and you don’t think your UBI scheme will “interfere with market dynamics”??? How about I just buy more and more shares on the stock market then with my UBI?? That’s what I’ll be doing! You give me free money, I’m going to take that free money and have it make more free money for me. I want free lunches! Give me more free lunches! Nom nom nom!! C’mon now!

[MichaeldeSousaCruz]

50:30 Hold the Phone!!! 😂 UBI and MORE TAXES?!?! On the Rich???? UBI is officially DOA!!! 😂🤣