<story><title>Basic Income Research Proposal</title><url>https://basicincome.ycr.org/blog</url></story><parent_chain><item><author>neilwilson</author><text>The design is flawed from the start. If you have any sort of income guarantee in a system where&lt;p&gt;(i) there are others in the same currency area who don&amp;#x27;t receive the income&lt;p&gt;(ii) the amount is insufficient to live on&lt;p&gt;(iii) there are insufficient jobs overall in the economy for all that want them&lt;p&gt;(iv) it isn&amp;#x27;t permanent&lt;p&gt;then all you actually have is a tax credit system with a different withdrawal mechanism. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basically-finnished-babadac2d29b&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basi...&lt;/a&gt;&lt;p&gt;The pathologies of income schemes that cause all of them to be degraded and cancelled build up over time as people adjust to the new scheme and work out who is failing to reciprocate.&lt;p&gt;Overall basic income is theft from workers and will be seen as such by those workers. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basically-theft-a95eeedb5aad&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basi...&lt;/a&gt; They then agitate to have the income removed from those seen as cheating the system.&lt;p&gt;What we need are guaranteed jobs at a guaranteed living wage, paid for by the state working for the public good. Then private businesses finally have to compete for labour and that maintains the wage share.&lt;p&gt;People need something to do where they can be of service to others. Not paying off and left to rot.</text></item></parent_chain><comment><author>Matumio</author><text>The mandatory Milton Friedman quote:&lt;p&gt;At one of our dinners, Milton recalled travelling to an Asian country in the 1960s and visiting a worksite where a new canal was being built. He was shocked to see that, instead of modern tractors and earth movers, the workers had shovels. He asked why there were so few machines. The government bureaucrat explained: “You don’t understand. This is a jobs program.” To which Milton replied: “Oh, I thought you were trying to build a canal.  If it’s jobs you want, then you should give these workers spoons, not shovels.”</text></comment>
<story><title>Basic Income Research Proposal</title><url>https://basicincome.ycr.org/blog</url></story><parent_chain><item><author>neilwilson</author><text>The design is flawed from the start. If you have any sort of income guarantee in a system where&lt;p&gt;(i) there are others in the same currency area who don&amp;#x27;t receive the income&lt;p&gt;(ii) the amount is insufficient to live on&lt;p&gt;(iii) there are insufficient jobs overall in the economy for all that want them&lt;p&gt;(iv) it isn&amp;#x27;t permanent&lt;p&gt;then all you actually have is a tax credit system with a different withdrawal mechanism. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basically-finnished-babadac2d29b&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basi...&lt;/a&gt;&lt;p&gt;The pathologies of income schemes that cause all of them to be degraded and cancelled build up over time as people adjust to the new scheme and work out who is failing to reciprocate.&lt;p&gt;Overall basic income is theft from workers and will be seen as such by those workers. &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basically-theft-a95eeedb5aad&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;medium.com&amp;#x2F;modern-money-matters&amp;#x2F;is-basic-income-basi...&lt;/a&gt; They then agitate to have the income removed from those seen as cheating the system.&lt;p&gt;What we need are guaranteed jobs at a guaranteed living wage, paid for by the state working for the public good. Then private businesses finally have to compete for labour and that maintains the wage share.&lt;p&gt;People need something to do where they can be of service to others. Not paying off and left to rot.</text></item></parent_chain><comment><author>rory096</author><text>It should be noted that the parent is basing his conclusions on Modern Monetary Theory[0], a heretodox economic theory in which fiscal policy is unconstrained, deficits aren&amp;#x27;t relevant, and a country is always able to spend.&lt;p&gt;[0] &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Modern_Monetary_Theory&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Modern_Monetary_Theory&lt;/a&gt;</text></comment>