Blog #5
(Part 3 of 3 on G.I.) People still have to pay their dues

Written by
Lory Kaufman

The opening paper of this blog began with the assertion that a steady state economy is not a nanny state, socialism, communism, or any other type of ism. It’s a style of human economic structure whose aim is to stop humanity from outstripping the world’s natural resources by overpopulating so humans, along with the natural world, can coexist in perpetuity. One of the main tools is to accomplish this is a guaranteed income. But, although a guaranteed income makes life easier for individuals, this does not mean that people won’t need a work ethic or don’t have to “pay their dues.” If one has an ambition they must pay these proverbial dues by training for the necessary skills, learn what needs to be known about their sector of interest, and get to know and be known by people in that field. In short, just like today, or any time in history, people must be self-actualizing to the best of their ability.

A bit of a recap for the blogs on Guaranteed Incomes:
A sustained program of guaranteed incomes most probably won’t work if governments do it with money borrowed from banks, because society will always be chasing that debt. The only way it can work is if government again creates debt-free money and puts it into society as guaranteed basic incomes. The banks can make their profits on the money when it works up through the economic pyramid to them and then they can lend it out again through loans. However, as laid out in the opening paper, they do it without fractional banking. The multiplier factor of being able to create and lend out nine to ten times the credit of their deposits has been replaced by putting a continuous flow of new currency into the hands of the public through the universal basic income.

I’m a capitalist, and I believe that universal basic income
is necessary for capitalism to continue
— Andrew Yang

Guaranteed incomes, in this form of a steady-state economy, not only protects the poor by giving them the means to live well, it takes money creation out of the hands of a few and puts it into the hands of each and every person in the economy. How they spend their money and invest the excess will democratize what is emphasized in society.
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