An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, May 4, 2017
David Green — Getting Paid To Do Nothing: Why The Idea Of China’s Dibao Is Catching On
Or as it is better known - private sector subsidies.
Unless and until you receive a full pension, then it isn't a basic income. It's just a top up for crap wages that favours corporations.
Only when you get a full pension - and it is across the entire currency area do you have a basic income system. Up to that point you have a system of propping up jobs that shouldn't exist for private profit.
Topping up the rice bowl to head off social unrest, the major concern in populous Asian countries that are undergoing fast-paced change and the introduction of disruptive technology.
When people don't have the basics, they revolt because they have nothing to lose.
Tax credits.
ReplyDeleteOr as it is better known - private sector subsidies.
Unless and until you receive a full pension, then it isn't a basic income. It's just a top up for crap wages that favours corporations.
Only when you get a full pension - and it is across the entire currency area do you have a basic income system. Up to that point you have a system of propping up jobs that shouldn't exist for private profit.
Topping up the rice bowl to head off social unrest, the major concern in populous Asian countries that are undergoing fast-paced change and the introduction of disruptive technology.
ReplyDeleteWhen people don't have the basics, they revolt because they have nothing to lose.
In the US we just label them lazy or anarchist or terrorist and use militarized police to incarcerate them for profit. Problem solved!
ReplyDelete