Submitted by hunterseeker1 t3_127g3v7 in Futurology
As we collectively gasp at the very real prospect of watching artificial intelligence absorb many of the jobs that we presently take for granted, it's clear that we urgently need to begin the formidable task of re-organizing the way society distributes wealth. A universal basic income (UBI) is a policy that would give every citizen a regular and unconditional cash payment, regardless of their income, employment, or family situation. UBI has many flaws, chief among them is a reliance on taxation for funding. In a world where corporations routinely pay nothing in taxes, convincing them to fund a UBI out of the goodness of their hearts amounts to wasted effort. Additionally, it puts citizens in a subservient position, making them reliant on the whims of the ruling class to disperse payments. The power dynamic would be even worse than it already is. Here's my point, UBI is a terrible deal. We need to go much, MUCH bigger. We need to collectively own a piece of the pie, the WHOLE pie.
Meet the Universal Basic Dividend.
A universal basic dividend (UBD) is similar to UBI, but with one crucial difference: it would be funded by a portion of the profits made by large corporations through publicly subsidized innovations. This difference makes UBD superior to UBI for several reasons. First, UBD would be more fair and efficient, as it would capture the value of the common goods that society provides to corporations, such as natural resources, knowledge, culture, and institutions. Second, UBD would be more sustainable and responsible, as it would not require a massive increase in taxation or public debt, but rather a redistribution of existing wealth. Third, UBD would be more dynamic and progressive, as it would reward innovation and entrepreneurship, and create a stake for everyone in the future of society. UBD is a better way to ensure a decent income floor for everyone, while also sharing the benefits of economic growth and innovation.
We may only get one shot at renegotiating the social contract before it's too late.
Discuss.