Is Basic Income Basically Daft?
What’s a poor ex-capitalist to do?
The capitalist owns the firms and the workers do the work. This is the way of the world. The workers receive a wage for their efforts and they use this to buy each other’s output.
The capitalist is the classic taker. He receives a share of all the worker’s output and does nothing for it in return. He just sits there doing what he wants, but occasionally has to say nice things to the workers to keep them working for him.
The workers come to see this as unfair and immoral. They rise up against the capitalist and regain the means of production. But they have been influenced by some hippy philosophers and implement a new ‘Citizens Income’ that is distributed to all. Now everybody has the means to live life as they choose.
So the workers work as they did before, but now receive salaries to top up their Citizen’s Income. They use this to buy each other’s output. Much the same amount of output as before the revolution, but the experience is just so much better now you’re buying it with salaries, not wages.
The capitalist is still the classic taker. He spends his Citizens income to receive a share of the all the worker’s output and does nothing for it in return. He just sits there doing what he wants and, now that everything is finally fair, he no longer has to bother saying nice things to people to get them to work for him.
If you liked this article, please click the ‘heart’ below to recommend it to others, and use the share buttons to spread the word. Remember Modern Money Matters.