There’s a difference between activities that are inherently desirable to do, just because they are fun/interesting/challenging, and activities that people can become accustomed to and eventually even like. I imagine farming is one of the latter. While I can envision a good deal of farmers continuing on farming without the economic incentive to do so, I doubt the replacement rate would be high enough to continue feeding the world.
I also imagine that, even if you abolish money, people would just recreate it, or at least an elaborate bartering system. I know I would personally. Note that there would be just as much desire from the ‘consumer’ as the ‘producer’ to recreate currency. Consider, for example, a hypothetical bridge building group, that just likes going around and building bridges for the sake of it. They’re the best, and are in high demand. The group is happy to just build bridges as they work their way across the country, until suddenly a city not on their short list contacts them saying, “We desperately need a bridge! We’ll do anything! You could live like kings here for months if you just build us a bridge!” It’s one thing to want to do something for the joy of it, without remuneration, it’s entirely another to actively reject payment. Thus, the cycle starts over again.
The author addresses this. He’s not particularly opposed to paying people to do things; he’s opposed to people having to do paid work or starve. The existence of a GMI should make people less willing to do unpleasant jobs for relatively low wages, effectively reducing the supply of unskilled labor. If you can’t automate away a job that most people don’t like doing, then just pay people the new, higher market rate.
I’m in favor of providing food and health care to anyone that needs it. However, a GMI that rivals minimum wage would probably have much larger consequences, which I’m not convinced anyone could predict.
Awesome link, thanks! I’m not sure about a GMI in the form of money per se, but if there’s a way to make it represent (as he suggests) “real wealth”, instead of a potentially slow-to-adjust numerical value, then it could work.
Mind-killer warning.
What is the opinion of everyone here on this? It’s an essay of sorts (adapted from a speech) making a case for a guaranteed minimum income.
There’s a difference between activities that are inherently desirable to do, just because they are fun/interesting/challenging, and activities that people can become accustomed to and eventually even like. I imagine farming is one of the latter. While I can envision a good deal of farmers continuing on farming without the economic incentive to do so, I doubt the replacement rate would be high enough to continue feeding the world.
I also imagine that, even if you abolish money, people would just recreate it, or at least an elaborate bartering system. I know I would personally. Note that there would be just as much desire from the ‘consumer’ as the ‘producer’ to recreate currency. Consider, for example, a hypothetical bridge building group, that just likes going around and building bridges for the sake of it. They’re the best, and are in high demand. The group is happy to just build bridges as they work their way across the country, until suddenly a city not on their short list contacts them saying, “We desperately need a bridge! We’ll do anything! You could live like kings here for months if you just build us a bridge!” It’s one thing to want to do something for the joy of it, without remuneration, it’s entirely another to actively reject payment. Thus, the cycle starts over again.
The author addresses this. He’s not particularly opposed to paying people to do things; he’s opposed to people having to do paid work or starve. The existence of a GMI should make people less willing to do unpleasant jobs for relatively low wages, effectively reducing the supply of unskilled labor. If you can’t automate away a job that most people don’t like doing, then just pay people the new, higher market rate.
I’m in favor of providing food and health care to anyone that needs it. However, a GMI that rivals minimum wage would probably have much larger consequences, which I’m not convinced anyone could predict.
Awesome link, thanks! I’m not sure about a GMI in the form of money per se, but if there’s a way to make it represent (as he suggests) “real wealth”, instead of a potentially slow-to-adjust numerical value, then it could work.