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Basic Income and the Free Market - Austrian Economics and the Potential for Efficient Redistribution (Hardcover)
Loot Price: R3,456
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Basic Income and the Free Market - Austrian Economics and the Potential for Efficient Redistribution (Hardcover)
Series: Exploring the Basic Income Guarantee
Expected to ship within 12 - 17 working days
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A collection of essays by economists and political scientists, each
with an interest in Austrian school arguments, Basic Income and the
Free Market confronts the Basic Income Guarantee (BIG) concept. It
outlines Austrian arguments for and against the BIG; critiques of
Austrian theory from market-socialist and post-Keynesian
perspectives that lead to defense of the BIG; critiques of BIG that
consider Austrian and other heterodox theory; comparisons of the
policy to proposals by others, such as Milton Friedman's negative
income tax; pragmatic arguments for the policy; and proposals which
discuss complex systems theory (which is embraced by 'left' and
'right' thinkers alike) and its relationship to Hayek's spontaneous
order. The collection opens a dialog between Austrian and other
heterodox economists as well as between 'classical liberal, '
libertarian, and left-leaning or socialist political scientists and
policymakers. The authors discuss whether the BIG could offer an
alternative to both laissez-faire and existing welfare systems in
developed countries, which are often criticized by both advocates
and critics of laissez-faire, opening a constructive dialog in
policy discussion. Included in this discussion is a systematic
critique of pure laissez-faire interpretations of Austrian theory,
and the analysis of the addition of a BIG to pure laissez-faire in
the place of existing interventionist systems. Proposals making
this case form the first section, followed by rebuttals and
proposals against the policy, and rejoinders.
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