Universal Basic Income

I've been thinking about money as the driver of all things human. Just got an article about the dangers of Universal Basic Income to our society.
Apparently, tech billionaires have started to speak out about a subsidy for people below the poverty line.
These billionaires, specifically the Facebook guy in a graduation speech at Harvard, are saying that automation is going to cost jobs. And that it would be in the best interests of our society to prevent these ex-job holders, and their families, from falling into poverty.
According to the author of that piece, titled "Why a Universal Basic Income Would Be A Calamity".
Here's why, in order of presentation:

  • The elites would decide to take the vote away from the unemployed.
  • UBI only fixes one problem: lack of a reliable Income
  • UBI would lead to resistance to work
  • And more

My thought is that we in America and in the Capitalist West have been experimenting with this program for centuries: inherited wealth. If one person leaves enough money to his descendants, they lose the economic incentive: work as a preventative measure to starvation.
What happens to trust fund babies might be indicative of what might happen to recipients of UBI.
I don't have numbers, and if you need them, let me know what you find out.
Would you let me know if this is of interest:

  • Taking a look at what has been done by children of the rich
  • Is money/starvation prevention the only motivation
  • Do we/should we care about people who aren't our relatives?

I seem to have a twitter-like limit on my intention to speak. More than 140 characters but not by much.
Much Love to you
Richard Rosen
August 14, 2017
4:30 AM EDT
Riverdale, NY


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