Re:Universal Basic Income is Capitalism 2.0
by r29vzg2 on Thursday July 30, 2020 @01:26AM
(#23994979)
The difference here is that the wealthy became wealthy by providing something of value. Wealth redistribution does the opposite, take from those that are providing value and give it to those that aren’t.
Re:Universal Basic Income is Capitalism 2.0
by ramshorns on Thursday July 30, 2020 @02:40AM
(#23995323)
> Wealth redistribution does the opposite, take from those that are providing value and give it to those that aren’t.
Yeah, that's capitalism. The goal of UBI is to return some of that extracted wealth to the working class.
Wealth is redistributed all the time, and because of an economic system that rewards already being wealthy, most of the redistribution is from the non-rich to the rich. UBI is an attempt to mitigate that imbalance by providing for people's basic needs when the market has failed to. It doesn't solve all problems but it's a start.
I agree with you that GDP isn't a good metric of success to optimize for, though.