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That's really smart. I hadn't even considered that and was naively operating on a default assumption of increasing GDP. Especially during a recession, adjusting
by laser 9y ago
That's really smart. I hadn't even considered that and was naively operating on a default assumption of increasing GDP. Especially during a recession, adjusting the basic-income downwards with GDP could create a devastating runaway feedback loop. I think as you wouldn't want the economy to grow faster than basic income, though, in the circuit-breaker-style implementation as GDP increases by more than x%, the amount should also increase x%, by default. When the GDP is assessed, say annually, it should only increase or maintain the current basic income rate. In the event of an unprecedented long-term decrease in productivity, the congress should be required to take action to lower the payouts.