Wednesday, June 28, 2017

Universal Basic Inheritance

The best way to make a small fortune is to start with a big one. Somehow Custodians have to still have the incentives to both benefit from what they have been give, and to hand it over in a better state. 'Enough to do anything, but not enough to do nothing'. If you believe in Capitalism, you believe that the fruits of labour can be transformed into Capital. That Capital then continues to be able to work even though 'the labourer no longer labours'. Should ownership be connected to labour, or to capital? If you are a Capitalist, you should have no problem with owners benefiting from the cumulative efforts of the past. If you believe in inheritance. Part of my support for Universal Basic Income is that it is a dividend on our Common Wealth. Common Wealth that it is impossible to figure out who deserves it, because our ancestors grew it together, and dodgily. The trick is... how do you still incentivise being a good custodian? How do you provide opportunity without creating parasites? 'Old Money' has to deal with this problem all the time. How do you raise wealthy children to have perspective. It is difficult to oppose UBI and support inheritance. 

Old Money

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