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Are we the baddies?

(geohot.github.io)
696 points AndrewSwift | 1 comments | | HN request time: 0s | source
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hardwaresofton ◴[] No.44478703[source]
> If you open a government S&P 500 account for everyone with $1,000 at birth that’ll pay their social security cause it like…goes up…wait who’s creating this value again?

This is a good point. Some VCs were major proponents of this (and tons of other business people I'm sure), but this is of course just a guaranteed inflow into the largest companies and the companies that think they will be large some day. Yet another way to reallocate public cash to private companies.

Another similar example is UBI -- its proof of an economy that is not dynamic. It's a tacit approval and recognition of the fact that "no, you probably won't be able to find a job with dignity that can support you and your family, so the government will pay to make you comfortable while you exist".

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tossandthrow ◴[] No.44478933[source]
> make you comfortable while you exist

I don't think there are many proponents of that type of ubi.

The way, at least I, see ubi is absolute subsistence - with a right to earn above that without affecting your subsistence.

IMHO something along UBI is needed for a democratized market economy - and I think the Scandinavian countries are the support for this claim.

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hardwaresofton ◴[] No.44479230[source]
> I don't think there are many proponents of that type of ubi.

Another good sign of a difficult policy to implement successfully/an idea that isn't ready for primetime. If everyone has different ideas of what the thing is, it's very hard to make good decisions, and easy for the "wrong" UBI to sneak in.

Other commenters have already made this point, but there are other ways to guarantee "subsistence". I think the hard to answer question is why are the targeted methods currently available not good enough? If we want to ensure people have food, then food subsidies/support make sense.

Also, if unemployment is the problem, fix that. If unemployment isn't the problem and people who are working aren't getting subsistence wages, fix that.

I think part of the problem is that no one wants to stick up and define what we think every human deserves and what we want society to provide. Does every human deserve housing? Access to green space? etc. Trying to clearly define this will lead to really interesting discussions that lay bare the disagreements core to society.

I think my early point still stands, UBI is not needed (we're making do without it now), and if it ever is needed, it's a sign of a lack of dynamism in the economy/ineffective wealth distribution mechanisms (basically, taxation).

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1. andrewflnr ◴[] No.44481771{3}[source]
> Another good sign of a difficult policy to implement successfully/an idea that isn't ready for primetime. If everyone has different ideas of what the thing is, it's very hard to make good decisions, and easy for the "wrong" UBI to sneak in.

This is not a reasonable bar for a policy being "ready for primetime". Some version of this is true for practically all policy proposals. The details will always matter, it will always be possible to get details wrong in critical ways, and people will (likely) always disagree on what those are.

It's very funny that you snub UBI in favor of "wealth distribution mechanisms". What do you think UBI is?