soothing hex (@soothinghex): "https://realprogressives.substack.com/p/state-money-class-struggle/comment/205044882 what do you think capitalists would do if they knew every 300 million Americans had a $1000 more in their accounts every single month? If this disincentivizes work, then GDP / capita may fal…"

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the extra-dimensional communist conspiracy

what do you think capitalists would do if they knew every 300 million Americans had a $1000 more in their accounts every single month?

If this disincentivizes work, then GDP / capita may fall and the stipend with it. Eventually it may reach the level of current basic welfare, in which case the incentive to work would be the same as now – depending on the hourly pay. Which would be lower.

If labor productivity keeps on growing, real GDP per capita can't stagnate unless activity diminishes, which supposes that either profitability falls or capital's relative importance declines. In other words nothing can save it.

soothing hex

Jan 24

realprogressives.substa…

The UBI you want must be indexed to (real) GDP per capita. This way inflation cannot erode it, working-class power increases over time, and there's no disinvestment issue related to a reduced incentive to work. As profitability would decline, the way out of stagnation would naturally be worker cooperatives and oth…

Jan 26

3:40 PM

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