It’s Time to Shift the Economy into Fourth Gear Capitalism with Basic Income
Scott Santens

Hi Scott,

Thanks for the article, it’s a good and interesting read! I have long been convinced about the necessity for a universal basic income, but the issue is always “how to fund it”. In most cases, it takes the form of a “transfer payment”, basically, a form of taxation on the rich redistributed to the poor. Because in the end, taxing the robots means taxing those who own the robots, and that would be the rich (shareholders). However, this has proven to be difficult and problematic for many reasons, notably the fact that the rich won’t so easily be deprived of their wealth, especially in a world with free and near instant capital flows. Your current President is a case in point: probably never paid taxes in his entire life despite his wealth!

I was thinking of a universal basic income that takes the form of a perishable crypto-currency in parallel to the current monetary system.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.