Technologies, culture, work, basic income and maximum income

Abstract

Radical changes of our cultural values in the near future are inevitable, since the current culture is ecologically unsustainable. The present proposal, radical as it may seem to some, is accordingly offered as worthy of consideration. The main section of this article is on a proposed scheme, named Asset and Income Limits, for instituting maxima to the legitimate incomes and assets of individuals. This scheme involves every individual being associated with two bank accounts, an asset account (their own property) and a holding account (held in escrow). Other parts of the advocated change in economic landscape are a radically different understanding of the concept of work and the introduction of a basic income. The roles of technology and culture, in creating both the opportunities and the obstacles to a transformation of society, are discussed. Non-monetary, non-convertible rewards for exceptional contributions to society are described. The scheme enhances freedom, being neutral in relation to many other value systems, such as the secular/sacred spectrum. The qualitative versus quantitative dichotomy is addressed, and it is concluded that the most that can be said of a just and sustainable society that has yet to be created is that the maximum income should be no more than one order of magnitude greater than the basic income, that is ~10 times at the most. Incentives for profitable employment would still be sufficient, and paying the basic income out of taxes on sales and/or non-basic income would be feasible.