The paleo-libertarian (eg Lysander Spooner<https://www.google.com/search?q=lysander+spooner+"mutual+insurance";>) derivation of the unconditional basic income and its financing is very much the way Swiss society is already organized in that its military consists of its able bodied men who keep in their possession military grade armaments and equipment with which they regularly train:
Establish a monetary system whose backing assets are the property rights recognized by law. These property rights are secured by a mutual property insurance corporation, whose members can be called upon to perform duties ranging from enforcement of property rights to “barn raisings” in the event of natural disaster. The role of demurrage, in, for example, gold backed monetary systems, is replaced by the insurance premium. Underwriting assessments take the form of escrowed bids for the insured properties—bids accepted at the current owner’s discretion. The bids are denominated in currency issued by the mutual insurance corporation.The shareholder/members of the mutual insurance corporation hold one voting share each which is issued at the time they join. They may proxy their votes, as in any corporation. The natural individual, endowed with vital interests sufficient to form a viable family, will demand, in exchange for his commitment to this contract, a voting share in the corporation and guarantee of regular dividends. Note: This demand by the natural individual, based on respect for his consent, is often overlooked—or even denounced as “collectivism”—in foundational thinking of libertarians of the Austrian school. Delivery of social goods, and elimination of attendant problems corresponding to public sector rent-seeking, can be largely handled by this purchasing power, placed in the hands of the share holders from the regular payout of dividends. Only the high bid in escrow for a given property right is charged no demurrage. This efficiently allocates the monetary base among the local economy’s assets. By this means, the monetary base becomes the liquid value of the local economy’s assets. In the theoretic ideal case, where all transactions are conducted electronically, a purchase consists of a change in the escrowed bids, transferring money from one person’s escrowed bids to another person’s escrowed bids. In this case, the role of the “investment expert” is essentially to act as an insurance underwriter who accepts a person’s money and, on their behalf, places that money in one or more escrowed bid that, by being the highest, is not charged demurrage because it has served the purpose of insurance assessment at the liquidation value of the assets bid. The neo-libertarians (Austrian School/Ayn Rand libertarians) hate this because it forces them to recognize that protection of property rights doesn't just spring out of nowhere and that, therefore, the revenue basis of a truly libertarian society -- a paleo-libertarian society -- amounts to a net asset tax. On Mon, Oct 21, 2013 at 12:18 PM, Craig <[email protected]> wrote: > On 10/21/2013 12:51 PM, H Veeder wrote: > > > > Instead of being a cash transfer, basic income would work like a > > decentralized mint, where individuals would be ascribed the power of > > limited legal tender creation. > > > > harry > > > > Printing money is no different than if every person had a tax placed on > all of his available cash. Let say, for example, that there is $100 > total in circulation in society. Then if I print another $100 and start > spreading it around to people to use; then everyone who does not receive > a portion of the new $100 that I printed will find that the money they > have will not buy as much, because the new $100 will be spent into > society and will bid up the prices. > > Money is not wealth. Wealth is the goods and products that people > create; and the services they provide. > > Craig > >
