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posted by Fnord666 on Saturday February 17 2018, @03:34AM   Printer-friendly
from the what-would-rivest-do? dept.

£10,000 proposed for everyone under 55

The government should give £10,000 to every citizen under 55, a report suggests.

The Royal Society for the encouragement of the Arts, Manufactures and Commerce (RSA) said it could pave the way to everyone getting a basic state wage.

The idea sees two payments of £5,000 paid over two years, but certain state benefits and tax reliefs would be removed at the same time.

The RSA said it would compensate workers for the way jobs are changing.

The money would help to steer UK citizens through the 2020s, "as automation replaces many jobs, climate change hits and more people face balancing employment with social care", the report said.

Royal Society of Arts.

Also at The Guardian and CNBC.


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  • (Score: 2) by acid andy on Sunday February 18 2018, @02:05PM (5 children)

    by acid andy (1683) on Sunday February 18 2018, @02:05PM (#639695) Homepage Journal

    Yes it would be kinder if it were a slow and gradual adjustment rather than an overnight cutting off of credit. Although economies can be very resistant to attempts at changing things smoothly so the policies would probably still cause some confidence and some overextended corporations to collapse. Houses are something people are always going to need. To a lesser extent, it's also true for cars. So the industries wouldn't die out completely. Hey, the extinction of the less fit industries might even free up some niches for new businesses that are more useful to humanity. ;)

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  • (Score: 2) by The Mighty Buzzard on Sunday February 18 2018, @02:31PM (4 children)

    by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Sunday February 18 2018, @02:31PM (#639705) Homepage Journal

    My primary concern would be that people have been trained by easy credit to be utterly unable to save and home ownership would just go away for your average citizen while rents would soar making the path to home ownership even more difficult.

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    • (Score: 2) by acid andy on Sunday February 18 2018, @02:49PM (3 children)

      by acid andy (1683) on Sunday February 18 2018, @02:49PM (#639714) Homepage Journal

      Yeah saving would need to be made cool. Up till now the advertising was all about getting people to borrow, not save. Of course if you pay interest on savings then loans still exist because you're loaning the bank (or the state) money.

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      • (Score: 2) by The Mighty Buzzard on Monday February 19 2018, @02:54AM (2 children)

        by The Mighty Buzzard (18) Subscriber Badge <themightybuzzard@proton.me> on Monday February 19 2018, @02:54AM (#639933) Homepage Journal

        I see a pretty big problem there though. If the banks can't loan money, they have no source of income to pay you any interest from.

        --
        My rights don't end where your fear begins.
        • (Score: 2) by acid andy on Monday February 19 2018, @10:55AM (1 child)

          by acid andy (1683) on Monday February 19 2018, @10:55AM (#640047) Homepage Journal

          Yeah they'd have to invest the money in equities instead.

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          If a cat has kittens, does a rat have rittens, a bat bittens and a mat mittens?
          • (Score: 0) by Anonymous Coward on Saturday February 24 2018, @05:12AM

            by Anonymous Coward on Saturday February 24 2018, @05:12AM (#642887)

            What precisely do you think an equity is, other than a loan dressed up in other trappings?

            On that level, co-ownership really amounts to a security behind a loan. Oh, sure, nominally you have a vote and all that, but it turns out that even muslim economics have effectively dressed up their anti-usury attitude to that of packaging things in terms effectively identical to those of loans.

            The reality of the matter is that loans are, as a structure, not inherently pernicious. They make for an easy political target, because the average person is more familiar with being a debtor than a creditor, but they're basically not evil.