Total Economic Rents of Australia as a Source for Basic Income

Gary Flomenhoft
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Gary Flomenhoft: University of Vermont

Chapter 4 in Financing Basic Income, 2017, pp 77-100 from Palgrave Macmillan

Abstract: Abstract Interest in basic income (BI) 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 (TRRA) study is used to calculate revenue available for BI in Australia.

Keywords: Economic rent; Basic income; Land rent; Dividend; Royalties; Commons and common assets (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-3-319-54268-3_4

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DOI: 10.1007/978-3-319-54268-3_4

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