Total Economic Rents in Australia as a Source for Basic Income

Gary Flomenhoft
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Gary Flomenhoft: University of Vermont

Chapter Chapter 5 in Financing Basic Income, 2023, pp 95-117 from Palgrave Macmillan

Abstract: Abstract Interest in basic income has resurged from the realization that Artificial Intelligence (AI) is replacing human beings in the workforce. Therefore, it is urgent to resolve the controversial question of how to finance BI, overcoming objections to presumed violations of property rights. This chapter argues that resources produced by nature or society as a whole are the property of the public. Therefore, the citizenry are entitled to receive rent for use of their property, what economists call economic rent. Figures from the Total Resource Rents of Australia study are used to calculate revenue available for basic income in Australia.

Keywords: Economic rent; Basic income; Land rent; Dividend; Royalties; Commons and common assets (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-3-031-29012-1_5

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DOI: 10.1007/978-3-031-29012-1_5

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