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

John Clark johnkclark at gmail.com
Wed Jan 18 03:28:29 UTC 2017

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.

​? 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
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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