A new “idea lying around” has entered the chat : that of Universal Basic Capital, which although proving a similar end result to Universal Basic Income, in that it distributes income to all - including (most importantly) those unable to earn it themselves on the open capital and job markets, differs fundamentally in that it is funded via collective state ownership of the REAL economy, in the form of a sovereign wealth fund that owns stakes in real assets, such as oil endowments, land, stocks and shares, rather than through forced redistribution of the nominal economy (in the form of progressive income taxation and/or, more commonly, money printing).
This idea is, obviously, tied to the ideals of Georgism, and the idea of a single land value (natural resource endowment) tax to replace messy unfair tax codes that tax time and people rather than things.
However, these ideas, as appealing as they are, do cast up questions (especially for those of us living in failing states who understand just how bad “state owned enterprises” can be) around the wisdom of the state (aka the money printer monopoly!) buying up and owning controlling stakes in the real economy.
Is this just out of the frying pan and into the fire logic?
Can good old George save the day?
Is this a socialist or a capitalist idea, and does it really matter if it works?
What is worse: the obviously unfair endowments and outcomes of a meritocracy, or the risks of centrally owned economies where the gains of the productive reward the unproductive?
What other old ideas lying around have made a comeback lately?
Read more:
Universal Basic Capital : https://www.noemamag.com/joe-stiglitz-ray-dalio-share-the-wealth-as-we-recover-health/
Old ideas and new take on land ownership : https://www.businesslive.co.za/bd/opinion/2023-02-14-bronwyn-williams-old-ideas-offer-a-new-take-on-land-ownership/
Land is a (very) big deal :
Universal Basic Capital