By the same authors

From the same journal

Full Employment, Unconditional Basic Income, and the Keynesian Critique of Rentier Capitalism

Research output: Contribution to journalArticlepeer-review

Published copy (DOI)

Author(s)

Department/unit(s)

Publication details

JournalBasic Income Studies
DateAccepted/In press - 4 Jun 2020
DatePublished (current) - 7 Jul 2020
Issue number1
Volume15
Number of pages38
Original languageEnglish

Abstract

This paper argues that Philippe Van Parijs’s original arguments for an unconditional basic income, while representing a distinctive proposal, rest on flawed assumptions. A contrast is drawn between Rawls’s anti-capitalism and Van Parijs’s defence of an optimised capitalism. His UBI proposal leaves in place the social power of the rentier-investor class and undermines effective political agency. This poses a problem for achieving a sufficient level of a UBI given its grounding on gifts and rents. The innovation of treating labour market rents as the source of a UBI involves a tension between full employment policy and that which a liberal state may promote. A UBI is also likely to be inflationary in a self-stultifying way. An alternative view, drawing on the work of Keynes, Kalecki and Minsky, is developed. Ultimately Van Parijs’s “Left Rawlsianism” collapses into Rawls’s anti-capitalist conception of a property-owning democracy.

Bibliographical note

© 2020 Walter de Gruyter GmbH. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy. Further copying may not be permitted; contact the publisher for details.

    Research areas

  • Unconditional Basic Income, Justice, Equality, John Rawls, Hyman Minsky

Discover related content

Find related publications, people, projects, datasets and more using interactive charts.

View graph of relations