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The Basic Income is Dead by Edward MIller

In economics, government, history, North America, politics, sociology on July 9, 2012 at 16:43

 

From: The Basic Income is Dead by Edward MIller, Institute for Ethics & Emerging Technologies, http://ieet.org

Technological progress is accelerating faster than ever before. Are robots going to “take our jobs?” Do we require a Basic Income to solve this? Let’s examine some basic principles.

Wages are determined by the margin of production. What this means is that a laborer’s bargaining power in the market is determined by their next best alternative to wage labor. Typically, that alternative, where available, has been homesteading.

That was the historic difference between the “New World” and the “Old World.” The New World was a land of opportunity because it had a lot of high quality land available for the taking. Not just for elites, but for any citizen who was willing and able.

Read the essay

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