April 16, 2019

ECONOMIES EXIST TO CREATE WEALTH:

Everyone's Talking About Basic Income. Here's 8 Problems It Could Fix (GUY STANDING, 4/16/19, time)

We should consider basic income from the perspective of what it would do for individuals and society. Let's start by admitting social policy is in crisis -- not unlike the mess it was in during the late 1930s in the U.S. and Western Europe.

Then in 1942, as the U.S. entry into World War II helped turn the tide in favor of the Allies, the British government commissioned a report on post-war social protection that went on to influence thinking on both sides of the Atlantic. Its author, the respected economist William Beveridge, said it was "a time for revolutions, not tinkering," in which the challenge was to slay "five giants" on the road to social progress: Disease, Idleness, Ignorance, Squalor and Want.

In America and Western Europe, the income distribution system built in the post-war era went a long way to slaying those giants, helping to put the horrors of fascism and state communism in the past. But today we face another crisis, in which the distribution system has broken down. One way of putting it is that we are confronted by eight modern giants blocking the path to a Good Society. Let's consider each in turn.

Distributing that wealth is a political question.

Posted by at April 16, 2019 1:06 PM

  

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