Why Universal Basic Income Is Troubling

if we want artists to have enough money to do their work, what is wrong with an artist’s grant system? It could be much more generous than current allowances, if that’s what we want. Directed incentives, not blanket diktats.

Literally argues against communism, then proposes something more communist. Who plans for who here?

Owning shares in companies will mean you will own the robots, as well as any new industries created in the revolution. These companies you own will pay you an income (dividend) for your trouble.

Yes, very good. This is ideally what everyone should do. It doesn't happen though. What actually happens is we get a small amount of people that save really successfully, a lot with okay returns, and a lot that don't save enough. So you get a lot of wealth and income inequality that is not bad in and of itself, but is corrosive to society, and I would argue wasteful in it's allocation of human capital.

I would argue that UBI is necessary for better economic efficiency, which is predicated on capital allocation efficiency. We know that fund managers don't usually outperform the market. Why do we suppose that the heirs of fortunes or even the newly minted wealthy would all be superior investors based on past performance? UBI may work similarly to an index fund. a vehicle which helps to widely allocate capital, disburse gains, and reinvest proceeds. The difference with a UBI is that it would be a compulsory program funded via taxes.

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