An economy is either humane or broken. It may be broken by necessity but it's still broken.
It all starts with material existence, the physics of being here and now. Once the primary problem of turning an empty stomach into a full one is solved then we move on to intellectual existence, the matter of mind, the stuff of free time and wonder.
Intellectual existence is structured by libraries. Certainly when we deal in ideas we communicate those ideas in common language and references or not at all, the purview of libraries. That intellectual existence feeds material existence with technology.
This is the structure of civilization to this point.
Now AI driven capable robots are overwhelming all systems of thought related to material existence such as economics. It is time to pick and choose from concepts developed for human labor to structure robot labor and create mechanisms to support aggregate demand. Here is such a construct;
Some Definitions;
Capitalism is defined by market allocation of resources to the talent of the moment. It is a system of arbitrage using a value calculus of various types of money to relatively value disparate products and operations of unequal reward to concentrate capital as those products are traded on criteria of opportunity cost.
The Economic Singularity is the moment when capable autonomous robots build and maintain capable autonomous robots. This will be a watershed of productivity unequalled in human history as it moves productivity increases towards infinity.
Licensing Fees are the cost of doing business in a given polity. Capable autonomous robots are very like working animals and, like them, need a licensed regulated owner of record to pay those fees, steward those machines, and collect the profits of their labor.
A legitimate UBI, a legitimate transfer of wealth, would be from robot labor to aggregate human demand as a redress of damages to the polity for loss of employment.
Such a scheme might be;
A GSE corporation assessing and collecting licensing fees per robot hour at deployment. The non-transferable voting shares of the GSE would be distributed one per citizen as 48% of outstanding shares and 26% each to the Treasury department and the Fed and the licensing fees and the tariffs protecting the licensed robots would be distributed as dividends on these voting shares.
This will create a closed loop allowing robots to function efficiently and humans to flourish.
Do Well and Be Well
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