Economic Update: Beyond Universal Basic Income


The Real News Network has the episode Economic Update: Beyond Universal Basic Income.

On this week’s show Prof. Wolff presents an in-depth analysis of UBI shows its advantages over most welfare, safety net systems. An even better alternative would avoid capitalism’s unnecessary production of unemployment because it utilizes technical progress (rising productivity) for profits. The alternative benefits workers’ leisure rather than profits. It is more democratic and avoids splitting people into unemployed vs employed, non-poor vs poor population.


Wow! This may be the most important video you see this year. Sure, there are things to discuss about this, but first absorb the concepts, and then we can talk about the details.

I’ll copy a couple of questions and answers that I got into on The Real News Network.

JoAnn : It’s, certainly, a good idea, but, getting US corporations to forgo that extra profit would be difficult.

Me : Once you get the concepts, this is one of the issues to discuss. Suppose you were given the task of getting corporations to go along with the basic idea. What things could you conjure up to solve the problem? Maybe some of the benefits of productivity could accrue to the corporations, but just not all of the benefits.

goedelite : “On this week’s show Prof. Wolff presents an in-depth analysis of UBI shows its advantages over most welfare, safety net system” opens the article. Do you find such linguistic garbage an invitation or a discouragement? I read no further.

Me : I think this is one description of a closed mind. If you could stand to listen, you might actually be exposed to good ideas you have never had.

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