Beware the Tech Oligarchs' “Guaranteed Basic Income” Scam | Hacker News Reader

Beware the Tech Oligarchs' “Guaranteed Basic Income” Scam

commondreams.org

16 pointsgscott7 comments

What a nonsensical article. It's clearly written for those who want to find populist reasons to frame capital as the enemy, all while ignoring basic economics or arguments.

#1: UBI is a dramatic potential restructuring of demand generation. It impacts markets, regulations, and all of the above the author stated as being ignored.

#2: Demand generation economics mostly comes from Keynes. They have been studied extensively and implemented across the board post WW2. How capital is distributed to education (free college), is a matter of public policy & not economic principle.

#3: This author needs to read more into basic economics and approach writing about such matters without a clear bias. Yes, we live in an era of massive inequality. But no, not all successful capitalists are out to create an economic system against "the people." I know multiple techno-capitalists with massive success, and many of them are interested in donating the majority of their wealth. They see UBI as an experiment that can help stabilize our domestic wealth & reduce inequality. This author is using misinformation to create a negative reaction, and her economic reasoning is weak at best. It's propaganda.