Read it at heteconomist
An important aspect of a Basic Income Guarantee, whether implemented in isolation or alongside a Job Guarantee, is the freedom it would give all people to make ethical life choices if they were so inclined. In the absence of an unconditional basic income, anyone who lacks independent means is essentially compelled to seek employment on terms set by employers. Private-sector employers, in turn, cannot be concerned with ethics or morality to the extent that this compromises profit. To indulge in ethical behavior not dictated by law or profit considerations would only see the enterprise lose out to others willing to do whatever it takes to get ahead of the competition. The provision of an unconditional basic income to all would free people to take employment only when, in their view, it served a socially beneficial purpose. This alteration in relative bargaining power could then be expected to encourage more ethical behavior by employers to the extent that workers were attracted to more fulfilling and socially beneficial roles, even when at lower pay than the alternatives.
Free to Live a Good Life
by Peter Cooper
Now we are getting somewhere, says the philosopher.
You know Tom if you look at least at the banks, if the govt wont maintain a permanent Zero Interest Rate Policy and (as per Warren's suggested reforms) continues to allow banks to buy Financial Assets such as credit risk free USTs, then that industry and many high level insiders are in effect enjoying a very large Basic Income Guaranty.
ReplyDeleteThis industry and many of the high level people that staff it and their cronies, have enjoyed a very high Basic Income Guaranty from the government for quite a long time.
You may have to be far removed from the industry to be able to see it this way...
Resp,
Right, Matt. It's a public subsidy.
ReplyDeletethis reminds me of the lady who worked the front desk at a factory we work in, her husband was retired, she only worked for the insurance. there is alot of things that could be done to improve the lives of every american(single payer, lower the retirement age, increase social security pay so elderly can live comfortably. have a job guarantee. there are some people who say this would be the "evil socialism", i say it sounds pretty damn good to me.
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