UBI and The Future of Economics

Abstract

UBI is a particularly interesting concept for the current issues. It has the potential to be an equalizer and a buffer for the concerns of late. It has some contextual issues that might be a concern; and it doesn't seem to be a sustainable solution, but it's not to say that it's required to be. There is so much fundamental economic change occurring; that sustainable solutions in general may not be required for some time. Due to many of the issues we are facing, many of the eldest inequities in our systems may also require solution; in order for humans to survive and thrive. I suspect that UBI could only play a small role in this process; in it's nascent stage. Ontology of UBI and Economic Trends:

From a Marxian view UBI might be considered an entitlement. This view seems narrowly focused; as it would be contextualized with an industrialized society. This doesn't seem relevant to even our near future; as we move toward a high tech society, with automation on the rise. The means of production are changing fundamentally. A Smithian view also has issues. Considering it institutionalized trickle down may also not be relevant with the apparent bifurcation of economies. Societies are now creating and managing their own decentralized, economic infrastructure; and there doesn't seem to be a defeater. Aggregation of wealth and markets may not effect the average person in the manner that it used to. Trickle down may no longer be required. The contextual issues are important to be aware of; as they are likely to effect policy. They are already becoming talking points; and political opposition is likely to be a hurdle for implementation. Political opposition is also likely to effect the manner in which it is implemented. This is a large concern; as it could effect the efficiency and effectiveness of UBI. In order for it to not suffer the same issues as previous social services, it must be unconditional and ubiquitous; below a bracket. Political prowess tends to set conditions and exclude; with flawed reasoning, concerning cost effect. This effects other systems unfavorably; and overall costs increase dramatically. This is well understood and represented in economic literature. UBI is likely to be an effective weapon against poverty; and a safety net, as automation increases, but the solutions that are in the works now don't seem to require it to be long lived. The favorable effects of UBI could be demonstrated inside of a decade; and UBI may not need to exist for a great deal of time after. All that seems to be required is to lift those below the poverty line out of poverty; to be capable of participating in the emergent economies. Of course, we can't be aware of what the chaotic components are; or what other issues might emerge, but this might be the next leap in the standard of living.