The colossal problem with universal income | #7 of Top 10 2019 | Big Think

TL;DR

Universal basic income is not the solution; it perpetuates consumerism and fails to address ownership and participation. Shifting towards universal basic assets and worker ownership may be more effective.

Transcript

DOUGLAS RUSHKOFF: For a long time I was a fan of universal basic income. And the logic I had was that I always hear politicians talking about, 'Let's create jobs for people. That's what we need is jobs, more jobs,' as if that's what's going to solve the economic problem. So the government is supposed to lend money to a bank, who can then lend money... Read More

Key Insights

• ❓ The focus on job creation as a solution to economic problems overlooks the structural issues in the current system.
• ⁉️ UBI perpetuates consumerism and fails to address the fundamental question of ownership and participation in the economy.
• 🧑‍⚕️ Universal basic assets and worker ownership provide potential alternatives to UBI, promoting equity and sustainable economic practices.
• 🧚 UBI can be exploited by corporations to avoid paying fair wages.

Questions & Answers

Q: How does UBI perpetuate consumerism and fail to address ownership?

UBI provides individuals with money to consume products, but it does not address the larger issue of ownership and participation in the economy. It allows the wealthy to accumulate more wealth while the majority of individuals remain consumers rather than owners.

Q: How can universal basic assets address the shortcomings of UBI?

Universal basic assets focus on providing individuals with access to essential resources like housing, land, and other necessary goods, rather than simply providing income. This allows for a more equitable distribution of wealth and encourages ownership and participation in the economy.

Q: How can corporations exploit UBI?

Companies like Uber can use the idea of UBI to avoid paying their workers a living wage. By suggesting that the government should provide income, they shift the responsibility from themselves to the taxpayers while continuing to profit and maintain control.

Q: Is UBI a long-term solution?

UBI, along with other social safety nets like Social Security and welfare, may provide temporary relief for those in need, but they do not address the root causes of economic inequality. They function as Band-Aids on a fundamentally flawed system.

Summary & Key Takeaways

• Universal basic income (UBI) proposes the idea of providing income to individuals without requiring them to work, but it fails to address the larger issues of ownership and participation in the economy.

• The focus should be on creating access to assets, such as housing and resources, rather than simply providing income. This would allow for more equitable wealth distribution and ownership.

• UBI can also be exploited by companies like Uber, who use it as an excuse to avoid paying their workers a living wage.