For the Basic Income Guaranteed to work we require an economic model that must be efficient to follow very specific regulations. Just as one would regulate food and certify it for instance as ‘safe for consumption,’ we have to apply the same principle and certify businesses as ‘safe for the economy’. Within this, one will have to establish ways to ensure that businesses are not built on the ideology of competition but rather on the principle of profit and of quality.
Therefore pricing will have to be certified to be sufficient and effective to ensure the minimum wage at least, is paid to the employees, the business owner makes a profit and the resources bought are paid for at a price that ensures such profit. We have to also ensure that the business is compliant and the movement of sales tax/ value added tax is efficient so that both the government and the Basic Income Guaranteed is effective; and then the consumer will be able to buy from businesses that ensure a good quality product, knowing that they are participating in an economic system that is taking care of each one’s individual dignified living with Basic Income Guaranteed. Doing this will also ensure that things like poverty, debt and the many psychological issues that develop because of stress around money, start to disappear from society.
This also implies that the true supply and demand will be based on quality and preference wherein the necessary research should be done and facilitated before one brings out a new product on the market. This is the part where psychology and public relations also play a role to ensure the person assesses the product as something that they possibly may be interested in acquiring; this ensures you’re not wasting resources on a ‘potentially successful’ product, and instead you secure your investment once you have your market analysis results, an effective presentation of a product that will have an assured market with sufficient demand which you will supply – so it is demand first, then supply.
Thus a clearly defined and estimated market share is established and cross-referenced according to the income levels available. This means assessing whether the available amount of money that is in the consumer’s budget is in fact realistic so that the business can work effectively. This is how one will ensure profit and sustainability instead of investing on opening businesses that are guaranteed to fail, just because the proper research was not done prior to running it. This effective business planning will ensure that sufficient profit is made as well as providing a good rate of success that will satisfy the business and the population in an equal manner: everybody wins!
Equal Life Foundation Research Team
Also on this topic: Basic Income Guaranteed and Business Transparency
This entry was posted in Advertising, Basic Income Guaranteed, Basic Needs, Budget, Businesses, Capital, Capitalism, Change the World System, Competition, Consumerism, Consumption, Economic Change, Economic Efficiency, Economic Growth, Economic Reform, Employment, Equal Life Foundation, Equality, Goods and Services, Government, Industries, Integrity, Job Creation, Marketing, Minimum Wage, Money Supply, Planned Economy, Power of Acquisition, Pricing, Production, Profit, Profit Share, Psychology, Public Relations, Quality Standards, Social Capitalism, Supply and Demand, Taxation, Trade, Trust and tagged business owner, business planning, consumerism, effective economic model, equality, government, income, living income guaranteed, market analysis, market shares, marketing, minimum wage, new economic system, profit, profit making, psychological problems, psychology, quality, sales tax, stress reduction, successful business, supply and demand, value added tax, win-win solution.
One of the big concerns that people have is that “If everyone gets a living wage, who is going to do all the dirty work?” because nobody wants to do it. So, in a Basic Income Guaranteed approach it’s going to be vital to change the ‘living wage’ or the Basic Minimum Wage and here it is suggested that it should be at least double the Basic Income Guaranteed so that it is a motivation for people that would like to live a more extravagant or luxurious life to actually do the work – whether it is a janitor, a road worker, a gardener, a child-minder, whomsoever works – and thus does not depend on the Basic Income Guaranteed, gets a minimum wage that is double the Basic Income Guaranteed, that will ensure that there is motivation for people to do the labor and for those that would like to improve their lives, while the Basic Income Guaranteed ensures that everybody has got enough to make a decent living.
The difference between the two would merely be a measure of luxury and therefore, businesses will have to consider that wage – which is obviously an input on production – must be equated within the price. And so, pricing will be based on ensuring that there are minimum wages and that people earn very good incomes. This will obviously increase again the amount of money that can be spent and so the economy will grow, the house market, the motor car markets… all the markets that are now in extreme trouble and where the trouble is increasing will all grow and life on Earth will be sustainable.
So, for you that are ready to approach these issues, look at how to implement it in your particular countries, translate these proposals into your language, do blogs about it and get involved in your political parties, see which ones are willing to embrace a Basic Income Guaranteed and if they are not: start a political party, because the way forward is political.
Equal Life Foundation Research Team
This entry was posted in Basic Income Guaranteed, Basic Needs, Birth Right, Businesses, Capital, Capitalism, Citizenship Shareholding, Dignified Living, Economic Growth, Economic Reform, Industries, Investments, Job Creation, Labor, Luxuries, Minimum Wage, Motivation, Politics, Power of Acquisition, Production, Profit, Redestribution of Wealth, Resources, Social Capitalism, Social Dividends, Sustainability, Value and tagged basic income, Basic Income Guaranteed, BIG, Businesses, capitalism, corporations, double minimum wage, economic growth, elf, equal life foundation, equality, fair society, incentive, living wage, luxuries, make poverty history, minimum wage, pricing, production, profit, reactivating economy, socialism, wealth redistribution, work motivation.