Green Party Promises Basic Income

Basic Income

Although it has no chance of turfing David Cameron out of Downing Street, the Green Party is the only mainstream political party that has a real solution to the problem of poverty amidst plenty. The Conservatives will give us more cuts; Labour will give us higher taxes which will reduce investment; but the Greens promise Basic Income, which they are now calling Citizens’ Income. At least that is the promise of their leader Natalie Bennett.

This is not new for the Greens, the policy can be found on their website, and the idea itself is anything but new, having been around for centuries, but it was the great Major Douglas who first expounded on it in depth and told us what will happen if it is not instituted. Indeed, he went much further.

With the exception of the coin and note issues, almost all money comes into existence as a debt from the banks, who have what Douglas called the monopoly of credit. If this monopoly is not broken, the result is that the world will go increasingly into debt to the financial system, which is what has been happening. The only way to break this monopoly is for sovereign nations to take back this power from the banks, issuing their own money debt-free and interest free.

The Greens appear to understand this principle, which is one reason they have no chance of ever coming to power short of a revolution, but the genie has now been well and truly out of the bottle for some time. Check out both the FinancialReform website, sundry videos on YouTube about debt-free money, and The Case For Basic Income.

Labour is blind to the necessity for this major reform, harping on instead about the minimum wage and its enhanced version the living wage. Tempting though this idea is, it puts the blame in the wrong place, on employers rather than on the financial parasites who are bleeding us dry. Any employer who does not make a profit will go out of business, but the financial system doesn’t simply make profits, it sucks the life blood out of the economy as well as setting us at each others’ throats.

Instituting basic income/citizens’ income/Social Credit would destroy the poverty trap into which those at the very bottom of society fall. Coupled with the abolition of the minimum wage, this would increase the output of goods and services making us all wealthier, those poverty pay jobs would then have real appeal because people would keep the fruits of their labours.

There is also an international basic income network, which is catching on worldwide.

 

About the author

Alexander Baron