Basic Income And The Free Market: Austrian Economics And The Potential For Efficient Redistribution (exploring The Basic Income Guarantee)
by Guinevere Liberty Nell /
2013 / English / PDF
1.5 MB Download
A collection of essays by economists and political scientists,
each with an interest in Austrian school arguments, Basic Income
and the Free Market confronts the Basic Income Guarantee (BIG)
concept. It outlines Austrian arguments for and against the BIG;
critiques of Austrian theory from market-socialist and
post-Keynesian perspectives that lead to defense of the BIG;
critiques of BIG that consider Austrian and other heterodox
theory; comparisons of the policy to proposals by others, such as
Milton Friedman's negative income tax; pragmatic arguments for
the policy; and proposals which discuss complex systems theory
(which is embraced by 'left' and 'right' thinkers alike) and its
relationship to Hayek's spontaneous order. The collection opens a
dialog between Austrian and other heterodox economists as well as
between 'classical liberal,' libertarian, and left-leaning or
socialist political scientists and policymakers. The authors
discuss whether the BIG could offer an alternative to both
laissez-faire and existing welfare systems in developed
countries, which are often criticized by both advocates and
critics of laissez-faire, opening a constructive dialog in policy
discussion. Included in this discussion is a systematic critique
of pure laissez-faire interpretations of Austrian theory, and the
analysis of the addition of a BIG to pure laissez-faire in the
place of existing interventionist systems. Proposals making this
case form the first section, followed by rebuttals and proposals
against the policy, and rejoinders.
A collection of essays by economists and political scientists,
each with an interest in Austrian school arguments, Basic Income
and the Free Market confronts the Basic Income Guarantee (BIG)
concept. It outlines Austrian arguments for and against the BIG;
critiques of Austrian theory from market-socialist and
post-Keynesian perspectives that lead to defense of the BIG;
critiques of BIG that consider Austrian and other heterodox
theory; comparisons of the policy to proposals by others, such as
Milton Friedman's negative income tax; pragmatic arguments for
the policy; and proposals which discuss complex systems theory
(which is embraced by 'left' and 'right' thinkers alike) and its
relationship to Hayek's spontaneous order. The collection opens a
dialog between Austrian and other heterodox economists as well as
between 'classical liberal,' libertarian, and left-leaning or
socialist political scientists and policymakers. The authors
discuss whether the BIG could offer an alternative to both
laissez-faire and existing welfare systems in developed
countries, which are often criticized by both advocates and
critics of laissez-faire, opening a constructive dialog in policy
discussion. Included in this discussion is a systematic critique
of pure laissez-faire interpretations of Austrian theory, and the
analysis of the addition of a BIG to pure laissez-faire in the
place of existing interventionist systems. Proposals making this
case form the first section, followed by rebuttals and proposals
against the policy, and rejoinders.
