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I think the issue with BI is that no matter how many things are automated and how many items become abundent there are still things that will remain scarce: lan
by alexvoda 11y ago
I think the issue with BI is that no matter how many things are automated and how many items become abundent there are still things that will remain scarce: land, minerals.
Land will remain a scarce resource and all things that depend primarily on land will remain scarce (housing, agriculture, etc.).
And in this situation there is nothing stopping land owners from absorbing the basic income. This means that revenue generated by land owning (not necessarily land owning itself) would have to be heavily taxed. Maybe even taxed progressively to avoid economies of scale in land owning and prevent a very few from owning all the land.
Or we could terraform celestial bodies in the Solar system.
It is important to note that land itself is limited, not housing. As long as we can continue building even higher and deeper housing is not actually limited.
- mattgibson 11y agoFor this reason, I think Basic income really only makes sense when paired with land value tax (LVT) and rent caps, which would prevent that problem. Both already work well in other economies in Europe.