Funding Guaranteed Basic Income: Viable Solutions and Perspectives
The concept of guaranteed basic income (GBI) has gained significant traction in recent years, with many circles envisioning it as a way to safeguard individuals against economic uncertainties. However, the primary challenge lies in the sourcing of funds to support this initiative. In this article, we explore various funding mechanisms, focusing on the viability and sustainability of each option.
1. Universal Work Effort as the Best Source of Income
The most sustainable and equitable method to fund a guaranteed basic income is through a mandatory universal work effort. By mandating all capable individuals to contribute to the economy, a collective income can be generated and distributed to those who are less fortunate or unable to work. Work, in this context, is not only limited to traditional employment but can encompass various forms of social contribution, such as volunteer work, community service, and other labor-intensive activities.
2. Universal Birthright: A New World View
A compelling perspective on funding GBI is embodied in the concept of Universal Birthright, as articulated by Hard Seed, an influential ebook. This idea asserts that every person has a natural and inherent right to a share of the world's natural resources by virtue of birth. The book presents a framework for sustainable economies and systems, offering detailed insights into the potential of the Great Agreement. Through a series of essays, it delves into economic, social, and political implications, providing a foundational understanding of how this concept could be implemented.
Key Topics Discussed:
A Wealth Tax and Economic Sustainability The New Homestead Act A Path to a Sustainable Future A New Economic Foundation Renewable Energy and the Social Contract Phylogenics An Introduction to Organic Transfiguration The Water Crisis A Practical Solution Iraqi and Economic Justice A Practical Solution Economic Stability in Afghanistan A Practical Solution Haitian EcoNomics a Practical SolutionHard Seed is available on Amazon and can be accessed through various digital platforms such as Spotify, Apple, and others. Listeners can stay updated with the latest developments through the podcast 'Clifton Middleton', which further explores the concept of Universal Birthright and its implementation.
3. Money Creation and Trillions of Dollars
One of the most viable and sustainable methods to fund a guaranteed basic income is through the power of governments to print money, as demonstrated by the MOUBI (Monetary Obsolescence Universal Basic Income) platform. This approach relies on the historical precedent of money creation without leading to inflation, as seen in the early years of the 21st century, particularly the first two decades. The economic stability demonstrated by countries like the USA during this period provides a strong foundation for the expansion of this concept.
Conclusion
While critics argue that funding a guaranteed basic income through taxation is unfair, particularly targeting productive workers to support those who are not contributing to the economy, alternative methods like Universal Work Effort and Universal Birthright offer more sustainable and equitable solutions. The concept of money creation, as exemplified by the MOUBI platform, provides a practical and scalable method for ensuring the financial viability of GBI.
Ultimately, the choice of funding mechanism should prioritize social equity, sustainability, and practicality, ensuring that the concept can be implemented and maintained without compromising the well-being of all individuals.