Techdirt Podcast Episode 16: Rethinking Work, Income & Leisure: Albert Wenger On Basic Income

from the BIG-ideas dept

Recently, there's been a growing discussion around the concept of a basic income guarantee and its potential to completely change how we think about work, income and leisure. Would it change the world for the better, or create more economic problems than it solves? Albert Wenger from Union Square Ventures joins us this week to discuss the potential of this revolutionary idea.

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Filed Under: albert wenger, basic income guarantee, economics, podcast

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  1. icon
    Ninja (profile), 19 Mar 2015 @ 8:51am

    Re: A Nice Idea, but...

    1. disincentivizes work
    2. stagnates creativity
    3. results in inflationary pressures
    4. will expand an entitlement mentality
    5. ignores the nature of "value"

    1- Nope. If you want to get all the neat gadgets you will still need to work to increase your income.

    2- Nope. In fact, some people that need to get a decent paying job instead of focusing on what they love would be free to pursue their stuff. Case point: most careers that don't generate immediate profit such as science in general.

    3- Maybe. Depends on which products and how you implement basic income. The current system also generates such pressures when you try to take people out of misery anyway.

    4- Maybe. And even if it does the citizen IS entitled to Govt services (depending, of course, on the country). See the US and how the basic rights are being eroded easily.

    Consider that a flat sceen TV, cable, and cell phones are now considered a "necessity" in today's welfare programs.

    Do you have a citation? And there are steps to think about before welfare comes into the equation.

    5- I struggle with this part too but again it depends on the implementation and it goes right into the inflationary point. This can happen but we know that the current system has plenty of faults too so it's not an excuse not to do it.

    This has been attempted in a small scale and it usually works. There are the ones that will simply lay back and spend most of the money given without strings attached in booze or whatever bad thing but you are underestimating people and their aspirations.

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