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At this point, this has become a problem that cannot be solved with the usual calls for an incremental, stick-and-carrot, taxes-and-policies approach. It will require a revolutionary change (but not a different economic system).

The economy can no longer be so socially inefficient, maximizing economic activity in order to maximize employment, total income, and the collection of taxes. We must provide a (sufficient) income for people that will determine in turn how much will be produced: make the existing economy demand-based.

There is a way: "To Preserve What We Have, What We Have Must Be Enough" (here in Medium, but not behind the paywall).

This is not a UBI, but it would be a guaranteed minimum income — accomplished without using government/taxes/redistribution.

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Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

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