Three trends that will create demand for an Unconditional Basic Income

Lui, @yablochko, writing for simulacrum.cc:

To put this in econometric terms, wages as a share of the economy have been in long term decline and recently hit a new low in the United States. Meanwhile corporate profit margins have hit an all time high. The last few years of economic turmoil has allowed industry to reduce staff numbers and reduce entry-level pay, without reducing capacity. If that trend continues, wealth creation will increasingly be confined to those with capital, and things start to follow a Marxist logic. The middle classes (and their elected representatives) will not let that happen.

An interesting thought overall, but Lui hasn’t been following US elections recently. The trend is for the middle classes to be swayed by arguments appealing to their ideology, regardless of the economic consequences. The trend is very much not for the middle classes to demand additional government support or services.

That said, there’s an alternate possibility too: some incredibly clever (and soon to be incredibly wealthy) entrepreneur might figure out a way to produce value by employing relatively unskilled workers.