Hi Tim... posted this to Glenn Petersen on the UBI thread....today... one could spend an hour on
the material in this post.... certainly don't do that!!
and it's Monday Morning in Auckland and Sydney!
game on.... and the Crypto's never stop...... LOL ;-)
Message 31377069
Hi Glenn......
to quote Bob Dylan.... and not in the meaning he intended: as he had a religious mystical meaning
" It's a slow, slow , slow train coming"
Why Switzerland’s Universal Basic Income referendum matters, even though it failed
WRITTEN BY Jim PughCo-founder, Universal Income Project
June 05, 2016
Today, Switzerland is the first country in the world to vote on Universal Basic Income (UBI)—an income floor for all Swiss residents through cash transfers from the government. Here’s what you need to know to understand today’s vote, as well as the growing basic income movement in the United States and beyond. Polls show that the referendum has practically no chance of passing, but that doesn’t mean we should ignore it
What Switzerland is voting onSwitzerland is voting on a referendum to provide a basic income to all Swiss citizens. Experts suggest it would amount to 2,500 Swiss francs ($2,550) a month for adults and around $625 a month for kids. The vote is on a binding public referendum to add basic income to the Swiss constitution, in addition to the existing social safety net.
A “Yes” today would be a public mandate to the Parliament to provide a detailed implementation plan. This would provide a basic income to all Switzerland’s residents, allowing them to survive through job transitions, caring for a sick relative, new babies, and throughout their lives.
Campaigners never expected the referendum to pass, but they see it as a key educational opportunity for the concept of basic income.
Why should we care?As awareness of basic income grows, so does support. The main goal of the Swiss campaign has been to educate the public. The campaign has increased support for basic income in Switzerland and has sparked conversations around the world.
A recent poll done by DemoScope, in January 2016, showed 59% of people under 35 (link in German) believe basic income will become reality in Switzerland. Young people seem to overwhelmingly support a universal basic income–making it a political likelihood in the decades to come.
A growing popularity among thought leadersAs income inequality becomes more and more extreme, fewer people have money to buy things. But we need a broad consumer base to ensure jobs and keep businesses afloat. Economists and business leaders who support basic income argue it combats poverty while also ensuring a strong middle class, because everyone gets an income boost.
At the heart of this issue is money—who has it, who gets to spend it, and how poor and middle class people could live with more of it. To drive this point home, Swiss campaigners delivered a waterfall of millions of gold coins to Parliament as they delivered signatures in 2013 to make today’s vote a reality.
Notable supporters of the Universal Basic Income concept range from Nobel Laureate and Princeton economics professor Angus Deaton to Facebook co-founder Chris Hughes and former ZipCar CEO Robin Chase, as well as venture capitalists across the world.
New implications for the future of workIn April, hundreds of people dressed as robots marched through the streets of Zurich calling for a basic income in the face of increasing job loss to automation.
With the impending likelihood of self-driving cars, automation and the future of work loom large for tech leaders who like to think of their work as improving the world.
Plenty of people in Silicon Valley agree with the robots in Zurich: A universal basic income is essential to the future of work as automation increases. Basic income helps innovation by allowing people to take job risks, start businesses, and leave jobs that aren’t a good fit.
Bringing the debate to the United StatesDriven by today’s vote in Switzerland, talk of universal basic income in the United States is picking up steam. Y Combinator, one of the world’s most powerful start-up incubator, is planning a study where they provide a group of people with a full basic income for five years. The Universal Income Project, which I co-direct, is organizing Create-a-thons across the US, where supporters channel their creativity to raise awareness and support for the idea. One of the projects emerging from these events was “My Basic Income,” which gave away a crowdfunded, one-year $15,000 basic income to one person at an event in San Francisco last week.
While we are prepared to lose today’s vote, the Swiss campaign has proven that referendums and ballot measures are an extremely effective education tactic on universal basic income, and that today is only the beginning of a new dawn for basic income.
As governments and businesses in the United States, Canada, the United Kingdom, Finland, and beyond test and debate basic income, expect to see a lot more on this topic. As income inequality worsens, automation increases, and millennials come of age, I am confident universal basic income will become a clear solution for the growing problems of our time.
Follow Jim on Twitter at dr_pugh. We welcome your comments at ideas@qz.com.
qz.com
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we already have it in Alaska........ just as they do in Norway, and other countries and entities with sovereign
wealth funds......
The money provides an annual stipend to Alaskans, as well as general revenue. Each October, the fund sends a dividend check to every Alaskan resident of up to$2,072 per person, or $8,288 for a family of four (it was reduced last year amid a budget crisis).Jun 30, 2017
this photo artwork accompanying the article is titled : stranded assets.
New survey by the Economic Security Project finds Alaska residents ...
qz.com.
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and now some Sunday Funday stuff...
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Message 31115579
type in the above link-- the book was authored by TWO MIT Professors in 2016
Machine learning 2.0
I physically had the book from the library.. as soon as it was issued last year... I do not have the title
correct.
The 2 MIT professors who cowrote the 2016 book Machine Language 2.0 posit that with a huge percentage of the jobs being performed by humans ... will be do by AI, computers.... smart machines etc.;
that there will be so much capacity and things being produced that the Government in conjunction with big Industry will create an Universal Basic Income that everyone receive. It will not replace capitalism and
people will still be encouraged and financial rewarded for work, creativity and value added..... that additional compensation will buy the luxury items, exotic vacations, Gulfstream G5's and all the other goodies that the Larry Ellison's, Paul Tutor Jones , Jamie Dimon and Oprah Winfrey enjoy.......
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an excellent interview with Felix Zulauf
June 2nd 2016
Message 30604790
About Felix Zulauf:
Felix Zulauf started out as a trader for Swiss Bank. He joined Union Bank of Switzerland in 1977, ultimately becoming the head of the institutional portfolio management unit and global strategist for the UBS Group. He is the owner and president of Zulauf Asset Management, a hedge fund based in Zug, Switzerland, which he founded in 1990 and now runs as his private family office. According to Macro Axis, Zulauf Asset Management had AUM of $1.7 billion. Zulauf has been a regular member of the Barron's Roundtable for almost 30 years. He also provides institutional research services.
Well, the world economy faces several problems, and some cannot be addressed by the governments, like the demographic situation, the aging and the slowing population growth and things of this nature. Then we have the accumulation of huge amounts of debt, which is a restraining force in the world economy because more and more economic actors and private households are hitting their debt ceiling capacity. That means they cannot go further into debt and therefore, they can only spend what they earn as income; and income is not growing much anymore.
The world is oversupplied with labor and that prevents good increases of wages. In fact, disposable personal income for the median private household in the Western world, after taxes, inflation, necessities like healthcare, et cetera, has been actually going down for 15 years. As long as this is the case, we are stuck in the situation we’re in today. What could the authorities do? The best thing would be to restructure the bad debt that we carry on the books in our system.
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0203/16 --- very important date of the Announcement of GOOGLE- Alphabet to Artificial Intelligence
Algorithms.
Google - Alphabet moves from a human coordinating search and other IT activities and replaces
with an Artificial Intelligence executive... THUS February 3RD 2016 was a PIVOT DATE for the
advancement into the new Era.
BIG Change at Google-Alaphabet ---Google Search Chief Singhal to Retire, Replaced by AI Exec
by Jack Clark
February 3, 2016 — 12:18 PM EST
Message 30489348
Giannandrea’s appointment, the technology may get smarter. The executive has overseen recent artificial intelligence efforts, including RankBrain, which saw Google plug an AI technology called a neural network into its search engine to boost the accuracy of results and an e-mail service called Smart Reply that automatically writes responses. Other work he has managed include efforts in image recognition and technologies that fetch information based on what users are doing with their devices, rather than what they’re explicitly searching for.
Data Storehouse Giannandrea joined Google in 2010 when it acquired a company he co-founded called Metaweb Technologies. --------------------------------------------------------------------
and This is the Deutsche Bank ----- who created Deutsche bank is in the post...
and also going back into the creation of the forerunners of
Bankers Trust... who Deutsche Bank purchased....
also covering the legacy firm of Alex Brown
and the Brief time window it was .....back in 1999-1999
Bankers Trust logo c. 1919
In 1903 a group of New York national banks formed trust company Bankers Trust to provide trust services to customers of state and national banks throughout the country on the premise that it would not lure commercial bank customers away. In addition to offering the usual trust and commercial banking functions, it also acted as a "bankers' bank" by holding the reserves of other banks and trust companies and loaning them money when they needed additional reserves due to unexpected withdrawals. Bankers Trust Company was incorporated on March 24, 1903, with an initial capital of $1.5 million. Despite technically having numerous stockholders, the voting power was held by three associates of J.P. Morgan. Thus, it was widely viewed as a Morgan company. J. P. Morgan himself held a controlling interest, and Edmund C. Converse, a steel manufacturer turned financier and then president of Liberty National Bank, was chosen to serve as Bankers Trust's first president.
Bankers Trust quickly grew to be the second largest U.S. trust company and a dominant Wall Street institution. During the Panic of 1907, Bankers Trust worked closely with J.P. Morgan to help avoid a general financial collapse by lending money to sound banks. In 1911 it acquired the Mercantile Trust Company and a year later the Manhattan Trust Company. In 1914 Converse resigned to become president of Astor Trust Company, another Morgan company. He was succeeded by his son-in-law Benjamin Strong Jr.. Strong served as president for less than a year, leaving Bankers Trust to become the first governor of the Federal Reserve Bank of New York after helping to establish the Federal Reserve System. In October 1917 the company became a member of the Federal Reserve system.
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JP |
