Redesigning Distribution - 9781844675173

Volume V in the acclaimed Real Utopias Project series, edited by Erik OlinWright.

Are there ways that contemporary capitalism can be rendered a dramaticallymore egalitarian economic system without destroying its productivity andcapacity for growth?

This book explores two proposals, unconditional basic income and stakeholdergrants, that attempt just that. In a system of basic income, as elaborated byPhilippe van Parijs, all citizens are given a monthly stipend sufficient toprovide them with a no-frills but adequate standard of living. This monthlyincome is universal rather than means-tested, and it is unconditional -receiving the basic income does not depend upon performing any labor servicesor satisfying other conditions. It affirms the idea that as a matter of basicrights, no one should live in poverty in an affluent society. In a system ofstakeholder grants, as discussed by Bruce Ackerman and Anne Alstott, allcitizens upon reaching the age of early adulthood receive a substantialone-time lump-sum grant sufficiently large so that all young adults would besignificant wealth holders. Ackerman and Alstott propose that this grant be inthe vicinity of $80,000 and be financed by an annual wealth tax of roughly 2percent. A system of stakeholder grants, they argue, "expresses afundamental responsibility: every American has an obligation to contribute to afair starting point for all."