Beyond wages: It's time for a true fair share. This section explores the fundamental principles of economic justice, and how to ensure that workers receive the compensation they deserve, moving beyond basic salaries and focusing on an equitable distribution of the profits generated by our collective effort.
For decades, we've been promised a future where technological advancements—from automation to artificial intelligence—would liberate humanity from the drudgery of labor, ushering in an era of leisure and prosperity for all. Yet, this promise remains unfulfilled. Instead, we witness a stark reality: while productivity soars, wealth concentrates at the very top, and billions struggle to make ends meet. This paradox, coupled with the desperate scramble for income, even in harmful trades, lays bare the inadequacies of our current economic system and underscores the urgent need for a radical new approach: Universal Basic Income (UBI).
• Our technological capabilities have never been greater. Machine tools, robotics, and artificial intelligence are capable of producing goods and services at an unprecedented scale. Yet, the vast majority of humanity is not reaping the benefits of this progress. Instead, wealth inequality has skyrocketed, and the middle class is being hollowed out.
• This is not simply a matter of "distribution." The fundamental flaw lies in a system that concentrates the gains of automation into the hands of a few, leaving the majority vulnerable to economic insecurity and job displacement. UBI is a way to decouple human well-being from employment, allowing the benefits of increased productivity to be shared by all, and not just the wealthy elite.
• Our current economic system forces many individuals into a desperate scramble for income, often driving them towards jobs that are not only unfulfilling but actively harmful to society. From the sale of addictive substances to exploitative schemes and outright scams, countless people find themselves compelled to engage in activities they might otherwise avoid, simply to survive.
• This situation raises serious ethical questions. Is it morally acceptable to force people into harmful professions through a lack of economic alternatives? Moreover, the societal cost of this "desperation economy" is immense, encompassing everything from the costs of law enforcement and healthcare to the erosion of trust and community.
• We should be asking the following question: if people did not have to rely on a job to survive, what would they be doing with their time?
• UBI is not just a safety net; it is a springboard for human potential. By providing a basic economic foundation, UBI will free individuals to pursue education, entrepreneurship, creativity, and civic engagement.
• When people are not struggling to survive, they can contribute their unique skills and passions to society, leading to innovation and cultural enrichment. UBI allows people to discover their full potential without being bound by financial considerations.
• Automation and AI are not going away, they are becoming more and more capable and omnipresent. In fact, they are likely to accelerate the shift in the labor market, rendering many existing jobs obsolete. UBI is a proactive response to these transformations. It is an acknowledgement of the changing nature of work, and a preparation for a future where machines perform an increasing number of tasks currently done by humans.
• We must remember that work is not just about a source of income, it is also about the many human activities that have intrinsic value in themselves, that are unpaid and that are necessary for the proper functioning of society. For examples, caregiving (for children, elderly, disabled people), volunteering, and many other actions that nurture our families, and our society.
• UBI is a way to acknowledge and reward this unpaid labor, and will empower people to pursue those activities without any financial burden.
• The stress, anxiety, and a sense of worthlessness that come from precarious employment is a major driver for mental health issues. UBI will remove all those factors, and drastically improve the quality of life and the general well being of the general population.
Before implementing UBI, it's essential to acknowledge that it can only truly succeed within the context of a just and equitable system. The introduction of UBI cannot simply be a top-down approach, adding an extra expense to the already existing broken systems. Before it can be safely implemented, the sources of systemic injustice must be addressed first, and the "leaks" in the system must be fully plugged.
The following conditions are absolute prerequisites for a successful implementation of UBI:
• Abolition of Labor Taxes: The current system of taxing labor is not only unfair but also counterproductive. Taxing work penalizes employment and the creation of new jobs, while simultaneously incentivizing people to seek out ways to extract more value from their labor, often at the expense of others. A fundamental shift is needed from taxing labor to taxing harmful activities.
• Transition to Organic Taxes: A system of Organic Taxes, based on the "polluter pays" principle, is essential to address environmental externalities, promote sustainability, and provide a funding stream for UBI. These taxes must be levied on activities that cause harm to society, like pollution, resource depletion, or the consumption of unhealthy products.
• Implementation of Fair Share Principles: Companies must move towards a model of profit-sharing that ensures all contributors receive an equitable portion of the value they create, be they workers, capital investors, or managers. A healthy and functional system requires that value created is distributed in a fair manner.
With those foundations in place, we can now address some of the practical considerations and open questions surrounding UBI:
• Level of UBI: The initial level of UBI should be sufficient to cover basic needs, but not necessarily a full living wage. It is expected that many people will still choose to work to enhance their standard of living. The level of UBI should be progressively increased according to funding availability, and a detailed understanding of its impact on society.
• Funding Mechanism: UBI will be funded through the implementation of the broad range of taxes that we call "Organic Taxes." Polluters, resource depleters, and other entities creating negative externalities will, in essence, contribute to the basic income of the general population.
• Universality: UBI should be truly universal and not conditional on any other factor, thus avoiding the stigma and the bureaucratic hurdles that usually accompany means-tested programs.
• Phase-In Approach: UBI should be implemented in a phased approach, starting small, and gradually increasing the benefit over time, as funding and resources become available.
• Work Ethic Concerns: While there may be some people who choose not to work, the majority of people will still seek meaningful work, whether for financial rewards or for personal fulfillment.
• Inflation: Inflation is a real concern that must be addressed, with a careful balance between Organic Taxes and the level of UBI to maintain economic stability.
• Cost: UBI should be viewed not just as an expense but as an investment in human potential. It is about improving the quality of life of the general population, and also about saving money by removing the root causes of many social problems (health, crimes, etc.).
• Pilot Programs: Pilot programs can be used to refine the implementation mechanisms, to learn from real life examples, and make the necessary adjustments to our theoretical framework.
Universal Basic Income is not just a utopian dream, it is a pragmatic solution to address the systemic flaws of our current economic system and adapt to the changing nature of work and technology. It is an opportunity to build a more just, equitable, and sustainable future for all of humanity. However, it must be remembered that UBI cannot be implemented in a vacuum. It requires fundamental reforms in our tax systems, in the way companies share their profits, and a willingness to address the root causes of injustice. UBI is a key component of this paradigm shift, a new foundational building block for an advanced, democratic society.
This article lays the groundwork for future explorations. We will now move forward by creating more in-depth articles about each aspect of UBI, and by constantly improving our model as we collect more data and input from our community.
Universal basic income (UBI) is a social welfare proposal in which all citizens of a given population regularly receive a minimum income in the form of an unconditional transfer payment, i.e., without a means test or need to work, in which case it'd be called guaranteed minimum income. It would be received independently of any other income. If the level is sufficient to meet a person's basic needs (i.e., at or above the poverty line), it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income.