Universal Basic Capital > Universal Basic Income
Income inequality in the US is the highest of all the G7 nations. The wealth gap between the richest and poorer families more than doubled from 1989 to 2016.
How do we change the fundamental dynamic driving wealth inequality?
Income inequality in the US is the highest of all the G7 nations. The wealth gap between the richest and poorer families more than doubled from 1989 to 2016.
How do we change the fundamental dynamic driving wealth inequality?
In a world in which returns to capital outpace returns to labor, we need to give everyone access to owning capital assets that appreciate in value, not just short-term income.
(i.e., those who earn from work can never catch up to those who grow their wealth from investments)
(i.e., those who earn from work can never catch up to those who grow their wealth from investments)
A oft-cited stat is that 55% of US households own stock.
What is lesser-known is that that ownership is very concentrated: the top 10% wealthiest American households own 84% of all stocks. The top 1% of households own 50% of all stocks.
What is lesser-known is that that ownership is very concentrated: the top 10% wealthiest American households own 84% of all stocks. The top 1% of households own 50% of all stocks.
How can we put more wealth-generating assets in the hands of more people?
One way to view DAOs and cryptonetworks is through the lens of distributing ownership more broadly, to enable the people who contribute work to also become shareholders.
One way to view DAOs and cryptonetworks is through the lens of distributing ownership more broadly, to enable the people who contribute work to also become shareholders.
https://twitter.com/jessewldn/status/1094990168673660928
Another interesting idea is @NBerggruen's proposal for a national common prosperity fund that provides dividends from capital gains to every family.
(the full article linked is worth a read)
(the full article linked is worth a read)
https://twitter.com/NBerggruen/status/1436050233230708754
A similar initiative is Alaska Permanent Fund, established in 1976 and funded by oil revenues, that pays out $1,600 per resident per year.
en.wikipedia.org/wiki/Alaska_Pe…
en.wikipedia.org/wiki/Alaska_Pe…
Another example is the UK's Child Trust Fund, in which children received an investment account seeded with £250 at birth to ensure every child has savings by their 18th birthday.
en.wikipedia.org/wiki/Child_tru…
en.wikipedia.org/wiki/Child_tru…
Advancing economic opportunity and improving financial security for more Americans is a goal we can all get behind -- and universal basic capital is a promising path to achieve that.
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