- Published on Friday, 11 October 2013 10:11
The concept of an unconditional citizens income is gaining momentum, the latest move being in Switzerland where 130,000 people signed a petition calling for a debate on the subject in Parliament, exceeding the minimum number of signatories required by 30,000.
Swiss to Vote on Guaranteed $2800 Monthly Income for All Adults (3 minute video and transcript)
Swiss may grant unconditional income for all
Some supporters of Social Credit (similar in concept but differing in implementation) have reservations:
"This Swiss proposal for a "guaranteed" basic income is understandable but is technically unsound because it will be funded by taxes and/or public debt. It does nothing to address the defect in the price-system which causes financial costs to increasingly and exponentially exceed effective incomes (i.e., wages, salaries and dividends) in any given cycle of production. This disparity arises primarily from the inclusion of additional allocated charges in respect of capital included in final retail prices--charges which increase price but not purchasing power. The proposal does nothing to reverse price inflation and to balance the price-system by substituting new debt-free consumer credit for the existing expanding consumer bank debt--so as to eliminate the overall need for consumer credit created as bank loans which increasingly mortgage future incomes. Nor does the proposal considered the manner in which the financial system accounts real cost in financial terms which increasingly exaggerate real cost in physical terms. As technology replaces or displaces human labour a secondary source of income becomes increasingly necessary but it must originate from outside the price-system and must not enter into the costs of production. The Social Credit mechanisms of a properly constructed National Credit Account from which can be funded National (Consumer) Dividends and lower or Compensated (Retail) Prices at point of sale are the appropriate means to distribute (not re-distribute) incomes additional to any earned in the modern age of automation. The purpose of an economic system is to produce required and/or desired goods and services for humans with absolute minimal input cost of which labour is one. It is not to create work through "full-employment". Any nation that requires over ninety per cent of it eligible work force to be employed must be considered very inefficient indeed. For heaven's sake--in the days of Merry England, a relatively high point in British history, the population enjoyed approximate 150 holidays per year! Is this present modern "sweatshop" really representative of genuine progress?"
For realistic financial policy and economics search Wikipedia for "Social Credit". Also go to SCRIBD at: http://www.scribd.com/doc/112942854/Introduction-to-Social-Credit-by-Dr-Bryan-W-Monahan
Hat tip to Rob for this
Irrespective of the mechanism to provide it, an unconditional basic income for all would unleash creativity and allow people to shake off the shackles of "wage slavery".
Hat tip to Alex for this
In our Critical Thinking discussions, when discussing the principles for the New Economy, there is sometimes debate on which is more important? Capturing the surplus value of land, abolishing interest or an unconditional citizens income. Janos is want to remind us that we are like domesticated animals hobbled so we cannot move (think) freely; a citizens income would release us to engage with the political economy and address the other fundamental flaws in the current economic system.