Recently, the idea of a unconditional basic income has resurfaced, gathering impressive support. But as the idea of a universal basic income has returned, so has resistance from both the right and the left. That implies combining three propositions: taxes cannot be a legitimate source of financing for such schemes; the rise of machines must be embraced; and a universal basic income is liberty’s main prerequisite. If a universal basic income is to be legitimate, it cannot be financed by taxing Jill to pay Jack. There is thus a strong case that the commons have a right to a share of the capital stock, and associated dividends, reflecting society’s investment in corporations’ capital.

Source: Mint November 02, 2016 19:52 UTC