"It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages."
Money is meant to circulate through economies. Customers buy stuff. That money becomes wages. Those wages buy stuff, etc.
Here's a diagram of how this works.
As factors of production become machines, factor incomes are reduced, which in turn reduces personal consumption, which in turn further reduces factor incomes.
Automation breaks this system without the provision of income external to the loop, aka unconditional basic income.
If you love the idea of decentralized market economies and hate the idea of unconditional basic income, you've got a real problem on your hands because the former requires the latter. Markets require customers who require money. As money goes to fewer hands, markets break down.
Today is #MayDay and #InternationalWorkersDay and #LabourDay and beyond recognizing the past victories of the labor movement in achieving milestones like the 8-hour day, we really need to talk about the future of the labor movement in a world increasingly automated by machines...
As automation continues, potentially eliminating 1/2 of all existing jobs by 2030, eroding security & buying power through the growth of part-time jobs, low-paid work, temp labor, gig labor and freelancing, unconditional basic income represents the ability to empower ALL workers.
The ability for everyone to say NO to any & all employers would have an undeniable effect on bargaining power. It'd mean greater profit sharing, higher wages, shorter days/weeks, improved working conditions, more flexibility, etc. UBI can even function as a universal strike fund.
"Why should the rich who don't need it get Unconditional #BasicIncome (UBI) too?" asks the person who would never think of suggesting that public K-12 schooling and access to police & fire protection only be made available to those households earning less than $100,000 per year.
Don't worry about the rich when it comes to UBI. They will all be net payers, paying more in than they get out, just as they already do with schooling where they pay for public school but instead opt to pay even more for private school. The universality of UBI is its strength.
It is not wasteful to provide UBI to those who don't need it. First of all, who are you to say who needs it and who doesn't? Secondly, trying to save money by doing so creates stigma and divides the population, weakening the program. Programs for the poor are poor programs.
Maslow's Hierarchy of Needs is a psychological theory that explains human motivation. In his theory, people will prioritize their lowest level of needs before they can focus on their higher level needs. #basicincome#ubimedium.com/basic-income/u…
A lack of the ability to meet ones basic needs creates a "scarcity mentality". Everyone experiences it at some point, from not enough money, food, or time. This mentality can best explain why poor people make poor decisions. #basicincome#ubi
When someone lacks the resources to cover their basic needs, they become extrinsically motivated to seek work. This often creates a different work attitude than those who are intrinsically motivated to work, because they're working to fulfill different needs. #basicincome#ubi
An unconditional basic income not only provides the income component of jobs directly, but it also better enables the earning of additional income, especially compared to welfare programs that punish the earning of additional income through withdrawal of conditional benefits.
Unconditional basic income better enables all forms of work by recognizing and making possible unpaid work as an option currently reserved only for those who can afford the option. UBI creates more work choices, and allows people to choose the work that's the best fit for them.
There's a new book coming out in April with an urgent call for Universal Basic Income. It's titled "The War on Normal People" (@WoNP_Book) and the author is @AndrewYangVFA. It's a must-read! Stay tuned to this thread for excerpts.
Here's the Table of Contents to get an idea of just how many important points this book covers, and the fact it also offers real and entirely necessary solutions like Unconditional Basic Income as America's Freedom Dividend. Make no mistake, we need UBI ASAFP.
"A wave of automation and job loss is no longer a dystopian vision of the future - it's well underway. The numbers have been telling a story for a while now that we have been ignoring… this is the most pressing economic and social issue of our time."