When is a transfer of wealth legitimate and when does it amount to raiding other people's bank accounts and when is it an emergency address of a national security situation? As you can tell from the options listed, this is a post Keynesian classical liberal analysis.
Fundamental to classical liberalism is capital, the concentrated money returns on productive enterprise, but labor is not to be forgotten. Automated machines may be capital goods but physical AI is a different category. It is nonhuman labor in the same class as a draft horse in the 19th century.
What constitutes Keynesian logic for transfers of wealth? It is a loan against productive capacity levied against society as a whole in support of aggregate demand and paid back to society as a whole by full employment and increases in productivity.
This loan amounts to raiding other people's bank accounts with probable but uncertain and unspecified paybacks. It is not particularly legitimate and the subject of abuse and critical comment.
This argument is post Keynesian. The loan is not generated by income taxes or any other raid on a bank account but rather generated by a fee assessed on robots at point of manufacture as a privilege tax for doing business in the given polity.
It is still a loan but the transfer is legitimate and to be used to support aggregate demand and fuel increased productivity in the autonomous automated production economy to the benefit by transfer of the whole polity and the payback of that loan is a general prosperity engendered by the transfer of that privilege tax.
This increases the ability of a polity to meet national security demands and repay such loans in quiet moments. Any expenditure in excess of receipts plus productivity increases is a loan against the body politic. It cannot be otherwise considered.
Do Well and Be Well
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