Tag Archives: cottage-industry

UBI – Universal Basic Income

The difference between a social welfare handout and a universal basic income is that the former is seen as a handout to the hopeless while the latter is an acknowledgement that the jobs provided by the industrial revolution are fast disappearing. And they’re not coming back.

https://futurism.com/new-report-claims-ubi-would-grow-the-u-s-economy-by-2-5-trillion/

The interesting thing about this article from Futurism is that it suggests a UBI might actually be good for the economy itself, not just for the people displaced by technology.

As a recipient of social welfare myself, I believe that the jobs of the future will be small scale and entrepreneurial. People will provide services to each other based on a local need. In a way, this is exactly what companies like AirBnB and Uber are already doing. In twenty years time though, social media may allow me to request a homemade cake for my birthday and have it baked and delivered by my neighbour down the road.

Such micro-transations could add up to trillions of dollars if everyone did it. But everyone can’t do it [now] because of two things:

  • lots of red tape associated with being a small trader,
  • and a social welfare system that is punitive rather than supportive

I can’t see a UBI being introduced any time soon because the political mindset is simply not there. Politicians have to stop thinking of their citizens as a drain on the government purse before any true change can occur. But at least the idea is gaining ground, if slowly.

cheers

Meeks

Advertisements

%d bloggers like this: