Dr. Martin Hash Podcast

People always confuse Capitalism with entrepreneurship but entrepreneurs are producers while Capitalism is a game of moving money around to make more money; Capitalists produce nothing, yet they accumulate wealth much, much faster than producers. Capitalism incentivizes the largest consumers to be the least productive while simultaneously concentrating wealth in their hands. One way to alleviate this perverse outcome is to give money to everyone else, known as the Universal Basic Income, or UBI, but the question is, how to pay for it.

The money used by Capitalism is imaginary, it exists in a bank's ledger someplace and nowhere else. UBI can similarly be implemented with imaginary money, imagined by government rather than by banks. The government would essentially “print” money for everyone else. This would put a similar amount of money in the hands of the 99% as the 1%. It doesn’t solve the consumption problem because UBI recipients don’t work either, so the whole thing would end in a busted economy, but it does give an interesting viewpoint to contempt how money works.