- Tim Middlehurst
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What would society be like if we implemented maximum income laws?
Our neo-liberalist economy is driven by consumption, growth of production and wealth accumulation, which is getting harder and harder to support.
While the argument of free market forces creating equal opportunities for all has some theoretical logic, the reality is that the world of industrialised society has now in fact created more debt than there exists wealth in the world. It is hard to argue that this is a good thing.
Since there exists enough money in the world for all to survive, and to eradicate ALL poverty, it must the method of allocation that is at fault.
Therefore, I conceive the idea of a world with not minimum wage limits, but maximum. As John Maynard Keynes predicted, we now have the ability to transcend the 'economic problem', to exist for purposes higher than acquisition of dollars. If we had a maximum we could earn, which would of course allow comfort and dream actualisation, we would be forced (empowered?) to assess our success by other factors.
We would achieve, if anything, greater levels of tertiary education- People would only study the things in which they were interested in, as wages would not be a factor. Lecturers and professors would teach for the pleasure of it. University fees would be non-existent, as wages and costs would be minimised.
People would be motivated by self-upskilling, to the point where they worked for the joy of achievement, or stimulation provided by activity. We would work less and less, having time to pursue societal goals of family living, healthy exercise, charity and development work.
My question to you wise and wonderful people is- What is the downside? I open this question to the world and its infinite knowledge.
One could theoretically answer that accumulating wealth for the sake of having it is an acceptable ambition, but besides that questionable proposition is there any foreseeable drawback? Economic or otherwise?