Doug Casey on Universal Basic Income

Universal Basic Income is an idea whose time will never come as long as humans remain humans. From Doug Casey at caseyresearch.com:

Justin’s note: It’s time for a universal basic income (UBI).

At least, that’s what Mark Zuckerberg thinks.

Zuckerberg is the founder and CEO of social media giant Facebook. Last week, he spoke in favor of a universal basic income while delivering the commencement speech at Harvard’s graduation ceremony.

According to Zuckerberg, this generation owes a UBI to society:

Every generation expands its definition of equality, now it’s time for our generation to define a new social contract. We should have a society that measures progress, not by economics metrics like GDP, but by how many of us have a role we find meaningful. We should explore ideas like Universal Basic Income to make sure everyone has a cushion to try new ideas.

A UBI would have serious ramifications for society.

After reading about this, I wanted to get Doug Casey’s take on the matter. Below is a transcript of our conversation…


Justin: Doug, what do you make of Zuckerberg’s suggestion? Is it time for a UBI?

Doug: It’s incredibly stupid from absolutely every point of view. He makes statements like “every generation expands its definition of equality,” as if it was a fact. Which it’s not. And as if it’s a good thing, which it’s not. He talks of “a new social contract”—which is code for somebody on high telling you what to do.

If “society”—whoever that’s supposed to be—were to push for any values, equality shouldn’t be among them. Equality only exists before the law. People are unique, and therefore naturally unequal. We’re not like ants or blades of grass. Equality is not only impossible, it’s not even desirable. A proper goal to strive for is freedom, which is possible and desirable.

These people don’t seem to compute that no one has a right to anything just because they exist.

To continue reading: Doug Casey on Universal Basic Income

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