Universal Basic Income is a philosophy that has generated support over the years from a number of different people. What is interesting is these are people who do not align politically. People such as Martin Luther King talked about this while Richard Nixon, the Republican President tried to get one through Congress. Today, we see a lot of support for UBI from tech titans like Elon Musk, Mark Zuckerberg, and Richard Branson.
At the core of much of the debate is income inequality. The recent addition of the tech titans comes from their belief that automation is progressing at such a rapid pace that technological job elimination is going to be commonplace. While many debate this point since the past witnessed the same claims without coming to fruition, I think what cannot be argued is that technology is moving at a pace never seen before. For this reason, it is prudent to listen to those who amassed a fortune in this field.
The support is for universal basic income is growing. It is undeniable that income inequality is accelerating with the proverbial "rich getting richer". While some free market, live and let live libertarians do not see this as a problem (I know, I use to be one), the fact is this system means that most are dependent upon debt to keep up a reasonable standard of living. Again, some might not think there anything wrong with this but is it important to understand that the situation is only going to get worse. Pull yourself up by your own bootstraps isn't going to work when tens of millions of jobs are replaced by robots.
I believe we are at the end of the era of creating meaningless jobs. We are now in an environment where Wall Street has enormous power. Because of this, earnings are most important. There was a time when creating a job was a desired outcome for large corporations but no more. Today, they seek to eliminate as many jobs as possible in an effort to reduce expenses. It is the nature of a public corporation that only looks at things in 90 day intervals. Therefore, we need to realize we in a world that is much different than even 20 years ago.
Universal Basic Income (UBI) helps to offset what is already taking place. The premise of this approach is that everyone deserves a basic standard of living. In years past, this could be guaranteed by union jobs or self employment. While individual businesses would fail, the overall mean was that people were able to excel through these two approaches. Today, both of those avenues have been decimated. Large corporations control most sectors so starting a small business isn't really a prudent option. Hence, UBI is really just keeping alive the belief that everyone ought to have a decent standard of living.
While UBI has majority support, albeit not overwhelming at this time, one of the critiques, even among the supporters, is how to pay for it. I was having a discussion with @cryptoeagle on a thread where he was stating his position about not trusting government and having them give out handouts. Basically, his assertion is this enslaves people. I can agree with this point which is why UBI cannot be a government funded affair. Using the same currency, which is really debt, means that the money will end up in the hands of the same bankers. While the routing mechanism might be different, the end result is the same.
This is where blockchain (and cryptocurrency) enters the picture. For those who are unaware, one of the major differences between a fiat and a crypto currency is what happens when it is created. With Fiat, before it reaches you, it is in the hands of the bankers. They are the first recipient. All money is distributed through the banking system. In the crypto world, all currency goes from creation into someone's wallet. Using steemit as an example, when you click the blue line in your wallet to download your STEEM, it is not coming from someone else. It is all new "money". You are the first person to own that STEEM. What did not exist a week before is now tangible currency in your wallet. It has a value and just added to your net worth.
Naturally, steemit operates on the proof of brain concept so we need to take action to earn the STEEM. While this is radical breakthrough in and of itself, we can take this one step further. The blockchain allows for currencies to be set up that provide money simply for existing. Call it a "proof of breath" concept. Everyone who is alive is entitled to the currency being deposited in their wallets. Over time, as we know, the value for a currency comes from the number of people using it. If everyone in the world is receiving a small stipend to provide for their basic needs, what does that do to the value of that currency? What would a currency look like with 1 billion wallets out there? In that situation, it is easy to see how many transactions would be taking place considering many of those wallets are held by people who are on the lower tier of the economic scale.
The path to abundance first starts with being able to cover the basics. Even in the developed counties, people often take jobs with pathetic wages simply because they have bills to pay. This stifles creativity while deterring people from starting a business based upon something they truly enjoy. While many point to welfare as slavery, the vast majority of people are enslaved since they have to work to sustain themselves. With no cushion, the option of saying no to a job, even one that sucks, is not available.
A basic income eliminates this situation. If one was offered a poor position at terrible pay, with the basic provided, he or she could say no. This is providing choice to people. Now this brings up the other argument, one of laziness. If people have their needs met, won't they be lazy? Let me answer that question with another one: are the wealthy lazy? Do they sit around all day doing nothing? I am sure some do. However, the vast majority are active either working, volunteering, or engaging in social activities. All these benefit society. Isn't it logical to believe that the average person is the same way. People will now have the time to engage in creative activities such as posting on steemit, which could add to their abundance.
It is time we shifted our thinking. The world has lived under a banking controlled system for the past 100 plus years. This led to starvation, wars, and overall misery for the masses. We now have roughly an $80T economy and one that is projected to accelerate. Automation is rapidly creating abundance for all if we choose to structure it that way. Sadly, for the last century, only the few at the top were able to enjoy the benefits of advancement. The blockchain technology and cryptocurrency markets offer an opportunity to erect a new system that helps everyone to profit. Central banks and even governments, themselves, are passe. The Nation-State concept is a dying animal. We need to embrace this as we move into a de-centralized world.
In closing, I will say there is simply no reason for humanity to suffer any longer.
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