: Basic Income the Abundance Algorithm | oAnth's day by day interests - via its scoop.it contacts | Scoop.it

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Basic Income - the Abundance Algorithm

 

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There is another way. The need for government meddling could end if the balance of negotiating power between labor and capital were equalized. Currently, the imbalance exists because capital can walk away, but labor cannot.

A basic income for all citizens would give labor the power to walk away. A population that does not have to work will benefit more from the work they do. With a basic income, those who receive job offers will be able to seriously consider whether they would rather spend more time with their families. The employers will know this and adjust their offers accordingly.

A basic income could bring true economic freedom to the market. A worker whose needs are met and who can negotiate a fair deal on his own may regard government meddling on his behalf as a paternalistic interference against his ability to choose the job he wants. The decision about whether a job offered at a subminimum wage is exploitative or a great opportunity could be made by the person with the best ability to know, the worker who can walk away from the exploitation.

A basic income could thus help unshackle the free market from policies now needed to protect labor. The positive sum power of exchanges in the free market could be unleashed, and a minimum wage would be unnecessary, because labor could receive its fair share of the benefits.

- http://freeliberal.com/archives/000988.php


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