Universal Basic Income and the falling rate of profit.

From what I know, some capitalists support UBI because it would serve as something of a palliative for declining demand caused by automation and the resulting decline in profits. It would seem, however, that as automation proceeds, there would need to be an increasing tax burden upon capitalists in order to raise money for the UBI, which would approach 100% as we proceed towards full or near full automation, which would of course mean the end of capitalism. Thus, ceteris paribus, UBI doesn't actually solve the contradictions of capitalism.

Showing 3 reactions

How would you tag this suggestion?
Please check your e-mail for a link to activate your account.
  • Charles Tone Loud
    commented 2017-08-01 10:13:30 -0400
    UBI never tried to solve capitalism’s contradictions… Enough if it makes it’s slow death less painful… or even pleasant!
  • Charles Tone Loud
    tagged this with good 2017-08-01 10:13:28 -0400
  • Edward Paul
    published this page in Ask Prof. Wolff 2017-07-31 05:09:07 -0400