$100 million for a House

[jackelgull]

I have no idea what you think I was talking about. I was saying that we don't have to exploit people because we have machines. That's what capital is: things that create other things.

When people refer to capital, at least in my experience, they usually refer to wealth, or to people who hold the wealth. I thought you were saying that people who hold the wealth do not exploit other people, and that those who are in working class poverty are there because they fail to take advantage of the opportunities presented to them.

 

[Hygro]

If we don't have a guaranteed basic income, how could poor people be failing to take advantage of a minimum guaranteed basic income?

 

[jackelgull]

If that's what you meant, then I must have misread what you posted.

 

[El_Machinae]

Oh, it's a case of terms meaning different things in different contexts.

In economic growth, we have Labour and Capital. You use Labour to work the Capital and then you get Output. It's usually (iirc) denoted with a 'K' for 'Kapital'.

But yeah, 'capital' can also mean spare money or spare assets, and that's a function of ownership. A mincome means that people are going to have more spare money, that they can then use to buy stuff with. That said, we'd still expect the Kapital to migrate upwards and become increasingly owned by the 0.01%