People may have heard of Universal Basic Income (UBI). The concept of UBI is not new and dates back to the dawn of time. Predicated on the idea that human rights are rights of all humans’ concepts and theories as outlined by governments throughout history. In the United States this concept is already used in one of the most conservative states in the union: Alaska. In Alaska all citizens that earn wages receive a dividend derived from oil revenues from the state of Alaska. In addition, Switzerland has recently voted against UBI in 2016 for it citizens. However, note it is coming, cannot be stopped, and a natural course of evolution in an economy that has progressed beyond the technology and information age.
Please let me state I am neither for, nor against the idea of Universal Basic Income, here in after referred to as UBI. In the future, perhaps within the next 25 to 75 years people in many societies will suffer from too much leisure time on their hands. This time will be a result of hyper economies of scale due to mechanization and technology. As a result, there will be fewer and fewer jobs; of course that is the purpose of mechanization and technology which is to replace labor, gain economies of scale and bring the cost of everything down. The idea of oversupply of everything has always been a true. All humans born and live have the same rights to human rights. Consequent, as economic theory and human rights theory goes the rights of humans are human rights. Next the theory states that all citizens of a society should benefit from a societies natural resources. Due to high unemployment UBI will have to be implemented in order to provide a living income in order to afford the basic necessities in life. All other income beyond UBI will be because people strive to have more. This is not a fairy tale; just the reality of the patterns of mechanization and technology.
As a business person I see great opportunity in this UBI concept and style of running a society. Many people will be taken back by this. However, no conclusion should be drawn from this because government tax revenue will ultimately follow the patterns of national income for a society in the long run; for an agreed upon level of service society deems proper provided by its government. Due to mechanization corporations will see increased profits, governments increased tax revenue, consumers lower prices, consumers less jobs, governments less revenue from consumers having less jobs and more time. This is the vicious cycle we have been in since about 1995. The secularity of this situation will take time to play out. The trends are obviously in front of all of us, the opportunities are also in front of us. The key component in thriving in this trend and or outcome will ultimately be an individual’s attitude. Presently we are seeing a lot of anger, and anti-establishment behavior and psychology in the market place. This psychological turmoil and confusion is due to uncertainty, and a lack of understanding what is happening. Over time this will iron itself out. Your personal outcome will be based on your understanding and willingness to adapt. UBI is happening right under your feet as we speak, you cannot stop it unless you cease to live.