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Given that the author is directing their outrage at public companies (Uber, FB, Amazon), what's to stop UBI recipients from buying shares of those companies to
by icodestuff 8y ago
Given that the author is directing their outrage at public companies (Uber, FB, Amazon), what's to stop UBI recipients from buying shares of those companies to effect the same thing? Employees (though not contractors) already get equity as well. If control is the issue, then something akin to Elizabeth Warren's plan of an employee-representative board member is an equally useful tool, and a much less heavy-handed one.
- throwaway234287 8y ago> what's to stop UBI recipients from buying shares of those companies to effect the same thing? I guess they could, but even at best that would still only slightly mitigate the effects of the increasing inequality. Since stocks are a way of making money with money [1], what you could buy with UBI (or, more realistically, the much much smaller slice that's left after living expenses [2]) is obviously much less than what someone with either more to invest or directly benefiting from the company is getting. [1] That is, for the purposes of this argument. Sure they're also a way of funding new endeavors etc. [2] And that slice of dispensable income is also, generally speaking, much smaller for those with low income than those with high income, both absolutely and relatively.