The Solvation of Universal Basic Income

EDIT:// I would personally incept Basic Income into Finnish society by making it the base of the retirement system, decoupling the idea that equity ownership should fund the Golden Path. I believe it should be equity creation: money can be created (via the solution below) directly to fund the path. This opens up many avenues to destress the economic system from forced growth (not from growth itself, which will happen by those who work) and makes trickle-down economic thinking a lot more viable and simple to operate: it becomes possible to delete a massive bunch of administration from the path that money takes to get to the account of a retiree.

This one really isn’t hard. It just needs a complete reconstruction of the base of the financial system: of money. Instead of one-dimensional money, we need to make it two-dimensional: give birth to the other side of the coin.

One-dimensional money – as we have it now – is as it is. Equal on all fronts: a euro is a euro, a ruble is a ruble, a yuan is a yuan: earned by working for it.

Two-dimensional money maintains the equality of the number. A euro is still a euro in number. But two-dimensional money arrives into our use through two separate forms:

First, we have money as we know it now: that earned through work, useable and saveable in the marketplace.

Second, we have money as we will know it through universal basic income: that given as a natural right, enabling all lives to be lived with a basic sense of dignity. Natural Money differs from Worked Money in that it is born at the beginning and laid to rest at the end of each month. Natural Money can only be used – not saved – and thus it can be directed purely in the direction of covering life’s basic necessities so that everyone can live with dignity.

Now that we have the blockchain, we can build it. Two-dimensional money is within very easy reach, administratively & technologically. Just issue each Citizen a payment card, load it up with Natural Money every month, and send them out into the marketplace.

The purveyors allowed acceptance of Natural Money can be limited by a standard definition of basic needs (not too much science required here – and politics will maintain the definition process across time). In turn, purveyors accepting Natural Money will – of course – have it transferred into Worked Money that they can save up, since they have worked for it.

The importance in making Worked Money saveable is that that annotates the value of work as the path towards ownership and increased personal sovereignty, and we should wish to maintain the value of work, as work is what keeps us where we are, setting the preconditions required for us to be able to move forward. Without work, we inevitably slide backward as we forget how to operate the societal machine and all its parts – such is the process of natural decay, which work counters, and let us not forget that society is a part of Nature. By making Worked Money saveable and thus giving it additional value as compared to Natural Money, we maintain the sanctity of the value of work and preserve the value of equities already had.

This is not to say that a life lived mostly or perhaps someday even fully on Natural Money isn’t or won’t be a sovereign life in and of itself, as well. It is just that work should have the higher valuation when it comes to increasing One’s sovereign power through ownership, since ownership is a powerful world-defining force that shouldn’t come without prerequisites. Ownership sets the stage for our forward progress by having control over the equity that we live our lives upon, and it takes work to own something well. The value of work cannot be discounted.

This solvation of universal basic income is completely dependent on us living in the digital age, since otherwise the overhead costs of issuing and transforming the moneys every month would be irredeemably high. Let it be an example of why the digital platform we have built is worth preserving at all costs.

© 2019 Jens J. Sørensen

7 thoughts on “The Solvation of Universal Basic Income”

    1. What do you mean more precisely with dimensional money in your comment? What I mean is that you would have money as it is now, and then an auxiliary (next to it) digital currency that has a limited lifetime and limited use places meant for basic necessities.

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