SOSC 1510 Lecture Notes - Lecture 21: New Economy
22 Mar 2017
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New technologies = higher productivity = lower unit costs = lower prices = increase in sales = greater demand = produce more (hire more workers) Underutilized potential (low wages hold full automation back) The fight over working time and its disappearance. The rise of the right to work. An income paid to all individuals (funded through general taxation) Universal, everyone receives it (without work obligation, irrespective of other paid income) Unconditional, no one applies or has to meet any eligibility requirements (no means test", no virtue" stipulation) It is set at a meaningful level (saying no" is a real possibility) The idea for this has been around for years, even centuries. Some thought it would be a good idea to have a one time citizen grant - some countries and states have similar things. It could substantially reduce poverty without the stigma of means -tested" programs. It turns productivity into leisure rather than unemployment.
