I think the idea of a basic income is really interesting though one aspect of it troubles me and I would be interested to hear HN's solutions to it. The trouble lies in the creative and economic relationship. If a substantial number of people reduce or stop their usual working hours and live off the income to pursue entirely creative activities, such as making a website or art, they are exempt from the usual capitalist status quo which forces a venture to be good, popular and eventually profitable (there is no standard of quality necessary as long as its overheads are not too high). This could mean a substantial number of people are neither creating wealth through work or taxable business.
One counter-argument is that by freeing up people to pursue their interests, there will be more good businesses opened as well, which will be profitable in the long run. The other is that a person would not pursue a project that is not well-received for a long period of time due to negative feedback.
Neither of these fully answers the problem though of what the system would do to stop people falling off the economic grid and the impact on GDP/taxable income this would have. Any thoughts?
One counter-argument is that by freeing up people to pursue their interests, there will be more good businesses opened as well, which will be profitable in the long run. The other is that a person would not pursue a project that is not well-received for a long period of time due to negative feedback.
Neither of these fully answers the problem though of what the system would do to stop people falling off the economic grid and the impact on GDP/taxable income this would have. Any thoughts?