Thanks for asking the question Francesca Brandani. And it would be a story in itself to answer this one. Providing I would have all the answers, which I don’t pretend to have…
However, I meet many people who are transforming our economy and monetary system. And with it, the universal basic income becomes a very viable option.
- Many experiments have been done and they all turn out favorably. It seems to work
- I met many economists who think it could work one way or the other. They don’t seem to agree on the method. And as I said there is a lot of political struggle with it
- I met the people of the Bancor Protocol who are explaining how it can work with crypto currency
- And one of my best friends will realize a basic income with Value Instrument (also crypto-based)
- There seem to be technical ways, involving negative tax systems, demurrage, and other jargon terms I try to understand better and better
- And there are people trying to do it by taking the land our houses are built upon off the market. They are working together with an ethical bank. According to their calculations, it could give us a basic income of €17,000 per year.
So, to answer your question honestly: I don’t know if it will work and how. But what I do think is that we should find ways to MAKE it work.
For me, it’s simple: the economy works if people spend money. Basic income would make sure people have money to spend. But we should do more to make an economy like that work. Because we have to earn this money with market principles and economic vibrancy.
So what we should do is ecologically intensify our production for basic needs (to make the economic laws work and ensure the wellbeing of all species). That’s what I write about. Restoring ecosystems, new business models, new economic thinking like doughnut economy, etc.
It would give a solution for job loss and industrial pollution…
Hope it give at least some perspective on this vast subject…