[ExI] Universal basic capital was Re: Universal basic income

[John Clark]

On Tue, Jan 17, 2017  Rafal Smigrodzki <rafal.smigrodzki at gmail.com> wrote:

​> ​
> UBC means endowing all citizens and wards with a measure of capital
> invested in the robot economy. A share of a humanoid robot, non-voting
> stock of an AI-controlled company, or shares of an index fund fulfill the
> criteria. Since the return to capital in the robot economy is very high,
> one needs only a minuscule amount of capital to yield enough rents to pay
> for a human's basic needs. In order to prevent the stupids from blowing
> their inheritance the UBC would be inalienable
>

​Interesting. ​



> except by a last will and testament.
>

​I don't see the point in that.
An inherited upper class, defacto royalty, is part of the problem not part
of the solution.  ​



> ​> ​
> The income stream from one's UBC would be under the individual's control,
> allowing choices between immediate consumption and further investment to
> increase the size of your endowment.
>

​Further​
 investment
​? This isn't an investment,  we need to call it what it is, a handout
needed to keep us alive. And I mean all of us not just the lower classes.
The machines don't need our money, but we will need a bit of the wealth the
machines are cranking out to live. ​



> ​> ​
> This is in stark contrast to UBI, which would only encourage spending and
> putting political pressure to increase the UBI by confiscation of resources
> from makers
>

​
Makers? With apologies to
​
Ayn Rand
​
fans, the makers will be the machines. And the machines will be neither
leftoids
​
nor right wing nuts,  the changes to society they make will be far beyond
what either petty human political philosophy
​could envision. ​


John K Clark
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