The Universal Basic Dividend: "When Capitalism No longer Starts at Zero"

Abstract


This paper explores and expands upon the new institutional economic and philosophical underpinnings of the proposal of a universal basic dividend (UBD). In particular, the role of society, freedom, transaction costs, agency, efficiency, and the setting of the 21st century (the age of digital and social transformation) play a role in considering its potential merits as well as its pitfalls. The structure of the argument follows a free flow approach and begins with a broad contextual illustration of a societal ‘worst-case’ scenario that may justify, even necessitate a UBD. The actual financial feasibility analysis of the system is not the main focus of this paper and an emphasis is put on conceptual and qualitative arguments.

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