Is Yangs UBI going to work?

I don't know why you find it difficult to understand. Some people don't believe in unfretted capitalism. Capitalism is acknowledged as the system that will produce the most wealth. But it is a system that rewards existing wealth and the most productive elite at a rate that the great majority do not enjoy. If it was not for the great majority of the people and their needs and wants the demand as customers of the goods and services produced by the top 5 percent that wealth is not created. So the majority of citizens form legal governments that regulate the power of the elite. This government in turn stops the great majority from turning into a mob and just taking the goods of the elite or the elite from taking from each other.

Do you also believe that the majority should not have the government have a min wage, a 40 hour week, safe working conditions, no child labor etc?

I don't understand people who think government does not have a role to play in commerce.

 

[QUOTE="double post

 

Oh wow, I thought that meant, "ultimate bowel irritation".
lol

 

Probably not completely for quite a while. Then yes. It will be outdated or obsolete.
Considering automation usually means centralization, which is not as sustainable as decentralized.

When we've really evolved we all own and maintain our automation with complete ability to produce it too.

 

We are at 3.5% unemployment, so a UBI is unnecessary right now.

What I find interesting about automation is this: If all production and many services are performed by robots instead of people, and therefore, people cannot earn money - are not the owners of these robots putting themselves out of business?

 

Why would the owners put themselves out of business? It is a gradual transition over the next 20 years. You can barely expect a corp to look past the next quarter never mind such long range. A self owned business has a long range view corps very rarely look more than 3 years. And is not that the point that Yang makes, the money from the top is the only way the majority is going to survive. It has been 2 generations since families had more than 3 kids. Economically soon it will be one kid as the norm in western soceity.

 

In the late 18th century something like 90% of the populace worked on farms. It's less than 10% nowadays

 

If you are over 25 and still making minimum you made poor life choices.

 

http://www.digitalhistory.uh.edu/disp_textbook.cfm?smtID=11&psid=3837

Same with the postal service which had HUGE numbers of people hand sorting mail, then it was automated.

 

What on earth are you talking about? Where'd you get notion?

 

so your point being that automation has already wiped out 90% of farmers and you want to extrpulate that to the modern age as what? What yang is saying is that robots are doing that now to manufacturing and even service. new manufacturing of millions of say cell phones are done by machines, do you actually expect a labor intensive field to develop besides early child care and senior care? I think most private colleges except for Universities to go belly up as online learning takes over.

 

30 years of sales and engineering working in both the telecom and as a tier 3 supplier to the automotive and sealing industries. The most I ever saw was three years down the road and I was also had roles to play in capital procurement.

 

I don't know what will develop and neither does anyone else but that doesn't mean that we'll soon have mass unemployment and starvation because there will be nothing for anyone to do.. As we have applied more and more labor-saving technology we have also been doing more and more things so our lives are infinitely better and better. I like and support Yang's plan because it is an application of what might be called Demand-Side Economics but I don't like the Neo-Malthusian concepts which I see as a distortion of his actual precepts

 

40 years of sales and engineering in all sorts of manufacturing including automotive as a tier 3 MRO supplier and I don't know of any who limited their projects and planning to just the next quarter.

 

All that is necessary is to re-invent economics, similarly to what happened at the end of the Middle Ages.

 

Ah so. Neo-Luddism. The fact is that modern day jobs with decent pay go unfilled because people are lazy and can't pass drug tests.

But don't worry. Big government and their fake jobs will take up the slack.

 

You seem to think the economy is a zero sum game. It is not.

 

Corporations produce good and services that people want and need. Yet, according to the left, they should provide these goods and services without making a profit. Like the commie Obama sad - "you didn't build that."

Reading Adam Smith's Wealth of Nations should be required to get a college degree, perhaps to get a high school degree.

 

The explanation is this. People who can't succeed in life want to limit the success of others.

 

Both polities let jobs leave the country. Reference Obama's comments mocking Trump saying he would bring these jobs back to the US.

Well unlike past Presidents Trump is bringing these jobs back.

 

Every time I read one of these economic threads it shocks me how many Marxists come out of the woodwork. Just sayin.

 

I am on the left and I want corporations to succeed, as only when they succeed can they be taxed. You can't tax something that does not make money. I just want a return to the tax rates of 20 years ago adjusted for inflation. Which is about 50% since that time. Of course adjust the personal deductions and exemption for inflation. so add 30,000 to these totals for a family of 4.
$0.00+ 15% 40% will pay this rate.
$45,200.00+ 27.5% now 68,000 + 30,000 in deductions is 98,000 which is 30% of all families in the us will pay this rate.
$109,250.00+ 30.5% 160,000 15% of the families will pay this
$166,500.00+ 35.5% 250,000 7% this
$297,350.00+ 39.1% 500,000 8% this

Gingrich and Kasich thought that this was fair when they pushed this thru.

 

The Pilgrims faced the same thing


"It's wrong to say that American was founded by capitalists. In fact, America was founded by socialists who had the humility to learn from their initial mistakes and embrace freedom.

One of the earliest and arguably most historically significant North American colonies was Plymouth Colony, founded in 1620 in what is now known as Plymouth, Massachusetts. As I've outlined in greater detail here before (Lessons From a Capitalist Thanksgiving), the original colony had written into its charter a system of communal property and labor.

As William Bradford recorded in his Of Plymouth Plantation, a people who had formerly been known for their virtue and hard work became lazy and unproductive. Resources were squandered, vegetables were allowed to rot on the ground and mass starvation was the result. And where there is starvation, there is plague. After 2 1/2 years, the leaders of the colony decided to abandon their socialist mandate and create a system which honored private property. The colony survived and thrived and the abundance which resulted was what was celebrated at that iconic Thanksgiving feast.
https://www.forbes.com/sites/jerryb...led-commune-led-to-thanksgiving/#5e95d6566dfe

 

Not a chance. Something for nothing goes against nature.

 

I believe those were the Clinton rates which actually slowed a strong tax revenue growth and GDP curve he inherited. Gingrich and Kasich passed a capital gains tax rate cut and the economy got back in gear and overall revenues jump 10% and with their budgets Clinton was forced to sign the budget went into surplus. Bush43 passed his tax rate cuts and revenues SOARED hitting 15% ans he and the Republican congress brought the deficit down to a paltry $161B.