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The Human Prosperity Project Discussion

Why a Universal Basic Income Won't Work

What motivates people to improve their skills or their situation in life?

Responses

To uplift themselves, to achieve a respectable, dignified life and status in society.

Character.

Just how debilitating welfare can be in eroding human initiative was told in a 2008 story by the U.K. Daily Mail.2 The newspaper reported on a study showing that the benefits system has created a “why bother” economy that has left thousands with no motivation to work. The Mail reported on 10 members of the same family living in a council house (paid for by the government), none of whom had ever worked. The newspaper has reported on other families who feel insulted when someone suggests they should find jobs. It is the ultimate poison that has produced an entitlement mentality.

The desire to improve, which is a basic human instinct, which is not diminished by receiving money you do not work for. If it did, the richest would stop trying to improve themselves. They don't need money. They may be GREEDY, or SELFISH, but so are people who don't have money. Their success appears to be a desire that is expressed in a manner that builds wealth. My favorite definition of Success is the progressive achievement of a worthy goal.

The Problem with your analysis:
If receiving money without working for it is such a character destroying system, then we must replace financial capitalism for the same reason. What is passive income? It is money received without labor. How is passive income received in financial capitalism? When someone pays you interest for your money. (Generally speaking, capitalism would replace property for money and rent for interest). What is a Capitalist? Someone whose passive income exceeds their cost of living. How does a person obtain passive income? By getting their money to work for them. How do you get your money working for yourself? By getting others to work for your money. How do you do this in financial capitalism? By loaning your money to someone who needs it. (buying an asset appears to be another form of rent payment). Therefore, someone has to pay the interest on money and the system of financial capitalism is to be the one receiving more than you pay. Until believers in financial capitalism begin to address this conflict, then they are creating a Master/Servant type of political, social, economic system that contradicts your stated moral starting point. Certainly, a learned man such as yourself can do better than this. I hope to hear from you. Thank you, James

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