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Product details

File Size: 1922 KB

Print Length: 388 pages

Publisher: Harvard University Press; 1 edition (March 20, 2017)

Publication Date: March 20, 2017

Sold by: Amazon Digital Services LLC

Language: English

ASIN: B06XV98MPW

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The author makes a compelling case for basic income and then, thoroughly and realistically, explains why it will be so hard to achieve. The potential for unleashing creative energy is intriguing. The outcome of the Finnish trial should be very interesting.

The authors present the pros and cons of basic income as it relates to political, economic, and social morals. They offer substantial plans for funding basic income. A well thought out book.

This book is very detailed but too academic for most readers.

The authors thoroughly review the pros and cons of a basic income. It is an important contribution to an intelligent debate on a social innovation that can contribute to the sustainability of the European welfare states - and elsewhere.

Not something I could buy into based on​ this book, but radical thinking is what is needed in the constant evolution of our society.

This is the most extensive discussion available on the subject of egalitarian justice, covering ethics, human behaviorism, politics, economics and history of public assistance. In contrast to the usual egalitarian diatribe, this one is well written, well researched and well argued.V&V profess a liberal-egalitarian approach while citing communist, libertarian, and capitalist justifications of a public provided basic income. There is discussion of alternatives, social insurance and negative income tax to the point where the later seems preferable to the advocated program. In practical considerations, inflation is dismissed as a minor risk, while negative motivations are extensively analyzed.For economical justification they dismisses risk of inflation as minor, There is a more realistic discussion of negative incentives. It's all based on ethics rather than economics. The ethics discussion is largely based on Karl Marx. It was Robespierre who suggested that man has a right to exist. Malthus disclaimed right to assistance as deteriorating condition of poor and rich. Locke wrote on poor laws, while Bertrand Russel proposed a SMALL certain income. Relying on the socialist economics of Thomas Piketty and Paul Krugman, they torture the utilitarian logic of Jeremy Bentham, the ethical analysis of John Rawls, the economics of J.M. Keynes and the philosophy of Frederick Hayek. They never incorporate the most pertinent economist, Wilfred Pareto. More modern is the failure of Lula da Silva's “zero hunger” policy.In pointing out the negatives, BI universality contributes to its political resilience.Rather than the usual arithmetically unfeasible tax the rich schemes, they admit to the need to tax high on rates densely populated.The authors never say what happens to current welfare programming. Whatever the merits of a guaranteed income as a replacement for current Social Security and Great Society programming, as an add on on it would be a disaster.

This is a comprehensive and therefore welcome exposition of many aspects of the basic income proposal, including its justifications, implications, history, philosophy, economics and politics. The philosophies and arguments of Rawls, Dworkin, Sen, Keynes and Marx are all rehearsed. This extensive coverage makes the book rather longwinded, occasionally rambling and repetitive, a stream of academic consciousness with frequent diversions.There is no doubt of the appeal of basic income which van Parijs and Vanderborght present well. The problem lies in two main objections – supposed work disincentive, and macroeconomic cost. The authors’ response to the free-rider problem, that others already free-ride, or yet others work without remuneration, is hardly convincing, particularly since a forthcoming paper by Richard McGahey in Ocampo and Stiglitz ‘The Welfare State and Inequality’ (Columbia University Press) cites extensive evidence of the work dis-incentivisation of basic income.Admitting that localised externally funded basic income experiments do not demonstrate basic income affordability, and dismissing a range of alternative mechanisms to fund BI, the authors scale back to proposing a ‘partial basic income’ funded by income tax which they define only vaguely and do not cost (pp 165-169), but then immediately claim that a basic income of 25% of GDP per capita is affordable (p170)!Equally unjustified is their summary rejection of the case for basic income from Keynesian demand deficiency in high technology economies (p130), and its funding by money creation (p152). ‘Helicopter money’ they say, ‘can only be of limited duration’. They are limited by their adherence to financial orthodoxy which will never show basic income affordable. They incorrectly interpret the Keynesian demand argument to rely on economic growth, whereas the argument is growth neutral and applies to constant or even reduced GDP. In this casual dismissal, they reject a powerful objective argument for basic income and its funding.In a thought experiment where a machine is plugged into the earth to produce all GDP output without any labour, and this GDP is distributed by vouchers issued and destroyed each year, then it follows that 100% of GDP becomes basic income, and 100% of GDP is deficit financed. The nuanced claim is that in high tech economies where output increasingly exceeds wage, then basic income is essential and financial deficit inevitable. Recent economic fact supports both these hypotheses. Though radical, this thesis is credible, has huge power as an argument for deficit funded basic income, and is one which the authors should examine further.

The title is oxymoronic. With any type of intervention in the labor market whether it be minimum wage, minimum living waste or the garbage presented in this book, society is NOT free!

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