Capitalism has gone through several phases 1) local markets bounded by limited mobility 2) globalization where markets expanded beyond borders now 3) markets saturated bounded by consumption.
Universal basic income increases the overall level of available consumption by providing everyone with the ability to participate in the demand side of the economy.
Read the blog post from Tim Robinson.
Links to this note
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The Problem With Capitalism Isn’t the Rich, but the Fixation on Wealth
In The trouble with capitalism, Edward Feser argues that the moral failings of today’s capitalism is caused by fixation on wealth. For example, we prepare young people for a career so they can acquire wealth, we define “being successful” as having wealth, and m the American dream is the right to pursue wealth for oneself.
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Capitalism Is Dead (Literature Notes)
The essay Capitalism is dead: long live Technofeudalism by Yanis Varoufakis, former Greek Minister of Finance, describes how advancements in technology killed what we used to call capitalism and replaced it, unwittingly, with a form of feudalism.