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October 1 2017 at 12:35 pm

I’m glad you picked up on this.

Did you see the Observer’s view on the future of work?

They mention UBI – but then they say this:

‘Even if robots were to erode human work, a universal basic income would be no solution: why would their owners continue to pay the rest of us an income when we lack the economic power that comes from having a job? Ceding the ground of an economic model based on the dignity of work and humans producing stuff consumed by other humans risks paving the way to extreme inequality. A tax on automation would simply discourage investment in the technological progress that improves living standards’.

I mean look at this. Huge assumptions about how UBI could be funded (re-distribution). No mention of the ability of the Government to print the money perhaps? Or any other good ideas? No imagination whatsoever and a blindness to what Government can actually do for its people. No mention of the trials in Northern Europe.


The main issue for the railways is the same as in the other utilities – privatisation actually creates a diversion away from re-investment and quality of delivery as it creates another mouth to feed – the investor – who always wants more and threatens to take their money away to someone else if the returns are not good enough (underpinned by law). What you have is an instant mechanism for how money (operational surpluses) can be moved from the real economy of wages and expenditure to the investment economy and the 1%.

My organisation is a not for profit ALMO sponsored by the City Council and our surpluses are put back into investment. That is why we are able to still build council houses despite the 1% in rent income a certain Mr Osbourne began to take from us in 2015. It works (albeit slowly).

Private investment (even PFI) could be made to work if the returns were reasonable and the investor was expected to make a longer term commitment to the projects that they ‘fund’. But this is not the case and never has been to my knowledge. It’s all about huge profits – not the projects nor the social benefits that should come form them. The whole thing is a lie.

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I had to pick which one to argue with….

The UBI comment was equally absurd

October 1 2017 at 6:27 pm

I fully understand that Richard – you do cover a lot of this stuff and I’m not poking any holes in your choice of article. All I was doing was pointing out that the same lazy thinking seems to dominate their thoughts on a multitude of issues. They have been unable to break through the intellectual glass ceiling they have imposed on themselves and which comes from the wider cultural acceptance of the ‘markets good/Government bad’ syndrome.


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