The following paragraphs introduce what karbytes thinks would make for a more enjoyable, fair, and efficient capitalist and socialist economy for all humans and takes into account the advancement of artificial intelligence and the fact that human beings are not satisfied merely being given things (which is why karbytes proposes that each person receive an unconditional basic income from the government (to pay for fixed-price essential commodities) each month in addition to being able to work for additional money to pay for fluctuating-price luxury commodities)).

Suppose every person who is 18 years and older automatically and unconditionally receives the same basic income amount as every other person who is at least 18 years old on the first day of each month as a direct deposit into that person’s bank account (and not as a check nor as cash because it is easier to monitor the distribution of funds if those funds are provided electronically and more secure because, if a person waits for a paper check to arrive in the mail, that check could relatively easily be intercepted by a thief or delayed due to overloaded logistics systems which have to process a high volume of parcels or by traffic delays related to raising fuel costs, road closures, and other physical obstacles which prevent the check from arriving at the recipient’s mailbox in time). It is time to digitize all money (and voting ballots like what is done in Estonia).

Of course, people who have “special needs” such as a qualifying disability should be given only as much extra income as needed to compensate for that “special need”. I suppose that having one additional child (whether birthed or adopted) counts as having one extra “special need” to accommodate.

What I predict would happen is that the people would not be content to only get that government issued money (which comes from the taxes which human and/or robot workers pay some of their earnings towards and/or from money which is simply minted into existence such that all persons are able to continuously receive their allotted monthly income from the government). People would not want to be limited to only being able to receive money from the government because part of human nature is perpetual dissatisfaction and a craving for novelty. Even though robots will likely soon be able to effectively replace more than 95% of the human workforce, I think that all humans should be allowed to do token or actual labor in order to earn extra income (which means that lazier and less educated humans can simply trade their time for some hourly wage doing tasks such as greeting customers, spinning signs, and sorting mail (which the robots re-do to in order to correct human errors and to evaluate human performance) while more ambitious and skilled humans can apply their talent and ambition towards earning salaries doing work which is actually in demand because such work is not suitable to being outsourced to robots such as teaching, counseling, and conducting scientific research).

If a sufficiently high number of dollars are minted per month in order to pay for every person’s government-issued monthly basic income, then the value of a single dollar would presumably decrease (which means that the price of goods and services would need to increase in order to remain in sufficiently high supply). In order to prevent non-workers from not being able to afford basic necessities, goods and services which are deemed to be basic necessities and not luxuries would have to remain at a fixed price independently of how many dollars are currently in circulation (whether being transferred between bank accounts or whether sitting idly in bank accounts).

Meanwhile, luxury goods and services are allowed to fluctuate in price as the merchant of those goods and services deems necessary.

Non luxury commodities include economy grocery and miscellaneous household item stores, economy housing, basic medical care, emergency response services, public transportation, public library access, and public park access.

This web page was last updated on 21_JANUARY_2023. The content displayed on this web page is licensed as PUBLIC_DOMAIN intellectual property.