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This basic income crowdfunding campaign reached its goal in less than 48 hours

funding.basicincome2013.eu

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Re: This basic income crowdfunding campaign reached its goal in less than 48 hours

#101

Post by weddpros »

streptomycin wrote: post #98
weddpros wrote: post #94

Earlier quoted context omitted.

I don't agree with you. If you find a job at 1200$/m you keep 1200$/m in your pocket, not 200... The real problem is if you get paid 80% of that for breathing, because of government assistance! When you want to help some industry, you'll give subventions to it. It should be no surprise that subventions to unemployment lead to more unemployment! France (where I live) has a track record : we almost have basic income (i…

I think you're confused about the difference between a basic income and a guaranteed minimum income. What you are describing is the latter, but what we are advocating is the former.

I just tried to explain that even guaranteed minimum income can discourage people from working. Basic income will have even more severe counter productive effects. I don't see AT ALL why it would not.

Re: This basic income crowdfunding campaign reached its goal in less than 48 hours

#102

Post by streptomycin »

weddpros wrote: post #101
streptomycin wrote: post #98

Earlier quoted context omitted.

I think you're confused about the difference between a basic income and a guaranteed minimum income. What you are describing is the latter, but what we are advocating is the former.

I just tried to explain that even guaranteed minimum income can discourage people from working. Basic income will have even more severe counter productive effects. I don't see AT ALL why it would not.

No, it's the opposite. That's the main difference between the two, actually. Listen to Milton Friedman: http://www.youtube.com/watch?v=p3ZcF1YjZNs (he explains all this within the first 5 minutes).

Re: This basic income crowdfunding campaign reached its goal in less than 48 hours

#104

Post by w_t_payne »

JackFr wrote: post #50
w_t_payne wrote: post #42

With little administrative overhead, this should be a more effective way of stimulating demand than QE.

Even if I assume your premise, why would you assume that this is a more effective way of stimulating demand? (I'm not necessarily disagreeing its just not obvious to me that one mechanism is better than the other.)

As I understand it, the QE strategy is for the central bank to buy bonds. Bonds become overbought, so investors shift to stocks and shares, lifting the stock market. Investors benefit, as do companies seeking to raise funds through share issues, but uninvested consumers do not. As a result, the stock market goes up, and borrowing costs for companies go down, but the "Real" economy stagnates. Companies can borrow easily to fund expansion, but have no real market to sell into, because the stock market is disconnected from the underlying "main street" economy. Basic income provides another mechanism for Keynesian reflation, but targets the "real" economy rather than the stock market, so stimulates actual demand, rather than pumping up the bubble. Of course, inflation is a massive risk with both of these strategies ... and may happen more directly and more quickly with the basic income strategy rather than with QE ... so on second thoughts ... it might not be too great an idea.

Re: This basic income crowdfunding campaign reached its goal in less than 48 hours

#105

Post by anoncowherd »

kfk wrote: post #51
anoncowherd wrote: post #48

Earlier quoted context omitted.

Good to see someone thinking for himself here.

If I were thinking for myself I would support this idea and then go on basic income for life, I can live with very little, so why not?

You seem to be talking about "pursuing personal gain", whereas I meant thinking for yourself in contrast to group-think / herd-mentality.
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