RE: [Futurework] A Basic Income as a form of Economic Governance

[Harry Pollard]

Ray,   “Profit” has nothing to do with economics. It’s an accounting term that the economists have grabbed – perhaps to make them seem relevant.   Although the accountants can play with figures to satisfy the government, the shareholders, and so on – actual profit (the surplus) is most probably wages.   Having said that, let’s step back quickly as the accountants descend on something and complicate the simple.   Harry ******************************************** Henry George School of Social Science of Los Angeles Box 655  Tujunga  CA  91042 Tel: 818 352-4141  --  Fax: 818 353-2242 http://haledward.home.comcast.net ********************************************   From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Ray Evans Harrell Sent: Tuesday, December 16, 2003 9:42 AM To: Thomas Lunde; [EMAIL PROTECTED] Subject: Re: [Futurework] A Basic Income as a form of Economic Governance   I want to thank you all for this excellent discussion.   For me, I prefer the Capitalist system's attitude towards work.   But I believe the limitation of for profit only works for certain types of work that cannot be "free ridden" on. i.e. the problem of "public goods" that are essential but are incapable of profit or capitalization because they cannot be limited or the limitation does not equal the cost of production.    "Productivity" is another problem concept for these essential businesses.      If I may be allowed to take you on a little circle here as we look at some of the key issues for me from the perspective of my own work.  Just a quick review so that we are on the same page.   The problem of for profit capitalism is one of making expenses and then making enough to pay yourself and your stockholders a profit.   Capitalization means that you have to guarantee some form of profit return in exchange for the seed money to make things possible.  Expensive projects that do not guarantee profit are either lotteries, like Broadway Shows where you gamble on the show "Hitting" the audience and then you make a big return on a long run or they are stable ventures like industrial companies where your money is supposed to be, but in the case of Enron etc. isn't always, safe.   I realize this is an artist's over-simplification.   But I think that is basically the story on capitalism.   Everything else, hedge funds, etc. are improvisations on the basic story for the purpose of some "getting ahead" of others and winning a higher profit.  But this works only for certain segments of the society and it is extremely externally motivated.   <snip>     --- Incoming mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.552 / Virus Database: 344 - Release Date: 12/15/2003 --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.552 / Virus Database: 344 - Release Date: 12/15/2003