Comments by "Wandering Existence" (@WanderingExistence) on "Economic Update: Social u0026 Labor Movements Claim Real Victories" video.

UBI has to be paired with a land value taxation or else all additional Universal Basic Income will be assumed by land rents. "The rent of land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give." — Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, Book I, Chapter XI "Of the Rent of Land"
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@bluewater454 So? There were capitalists funded by feudalism... Are you going to totally denounce capitalism because there were some feudalists at the start? Ridiculous.
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@xoxo_kiyla Alaska does a UBI because as a resident they own the oil in their state and they get money from selling the oil. No one created the oil, so it should be shared among the community.
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@xoxo_kiyla Look into Georgism if you haven't heard of it already. It explains why land rents would eat up UBI, but it also shows the reasoning for publicly owned natural resources (including land and even things like the electromagnetic spectrum).
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What exactly do you mean by this? Wasn't Engles funded by his capitalist nepotism?
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