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I have long been interested in these issues. The overarching issue is that labor is becoming less valuable in relation to capital. This is evidenced by increasi
by _Robbie 13y ago
I have long been interested in these issues. The overarching issue is that labor is becoming less valuable in relation to capital. This is evidenced by increasing productivity but stagnant wages, a decrease in labor's share of GDP, and an increase in corporate profits share of GDP.
The simplest solutions are to redistribute wealth such as through a basic income or a negative income tax. These programs can be viewed as fixing capitalism, and are not necessarily socialist. Unfortunately, most of these redistribution programs will need to be implemented by governments.
As an alternative to governmental redistribution, I have thought about an e-currency with a time based demurrage (https://en.wikipedia.org/wiki/Demurrage_(currency) https://en.wikipedia.org/wiki/Demurrage_(currency)) fee. The demurrage fees would be paid out equally to all consumers. The demurrage fee plays the same role as a job in the current economy by circulating currency from producers to consumers. Since it is an e-currency, it would be independent of governments. The good news is that if in the future wealth inequality causes economic output to shrink, businesses might be forced to accept these types of currencies in order to grow.