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What's your opinion on Unconditional Basic Income? (This is not Communism)

The Basic Income movement is one that is quickly gaining ground around the world. Both prominent right and left wing persons have given their support for this idea.

What's your thoughts on Basic Income, do you think it's a good idea?

http://en.wikipedia.org/wiki/Basic_income
http://www.reddit.com/r/BasicIncome/

EDIT: I forgot to mention (in case you haven't heard) that what sprout the movement was Switzerland's proposal for basic income ($2800 monthly). http://www.reuters.com/article/2013/10/04/us-swiss-pay-idUSBRE9930O620131004


EDIT 2: This is NOT meant as a universal cure for all the problems of the world, things like education, politics, corruption and deceases are separate issues (even though Basic Income might help with them) if you wish to solve those issues please join or start a conversation about those. However discussing them with respect of BI is very fine and encouraged.

Please try to NOT sway too far from the topic, which is "What's your opinion on Unconditional Basic Income?". Comments to others opinions are of course free to go far from the topic, but preferably not too far.

And please try to be constructive and mature in your comments to others on this conversation.

Also please read AT LEAST the provided Wikipedia article on Basic income as it will answer many questions posted here.


Thank you for reading this explanation...(?)

Topics: basic income
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Closing Statement from Jimmy Strobl

Wow, thank you ALL for your contributions to this conversation!

There's no way that I'm going to be able to summarize what was said here.
But I do feel that people might be ready for this transition or at least they are able to be convinced that it is feasible.

Anyway, thank you all for your participation and sorry for the lack of response the last few days.

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    • Dec 22 2013: Rewarded? You do know who hands out rewards?

      Exchange is always lossy, everyone trying to squeeze one another to gain anything of value to someone else - lots of actual value is lost, while fake value is being generated - due to scarcity, status and more.

      Therefore the first originator of the exchange is deprived the most.
      • Comment deleted

        • Dec 23 2013: Satisfied only because one of them has incomplete information. Usually it's the party with less means that is less informed. Profit is based on that imperfection in the economy.

          For example, if you want to sell apples, you can sell them to a wholesale buyer or the factory directly. However, you do not know which factories want to buy apples therefore the middleman comes in and takes his share plus extras. Sounds familiar? It's very common everywhere and a basic market inefficiency.
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          Dec 24 2013: Radoslaw you make an excellent point regarding those who insert themselves into each and every economic exchange then can - namely the middlemen - and who have become an inflationary infection in far too many national and local economies. In fact, they are not unlike the gangsters that infest businesses by offering "protection" from "uncertain risks".

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