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Total Economic Rents in Australia as a Source for Basic Income

In: Financing Basic Income

Author

Listed:
  • Gary Flomenhoft

    (University of Vermont
    University of Queensland)

Abstract

Interest in basic income 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 study are used to calculate revenue available for basic income in Australia.

Suggested Citation

  • Gary Flomenhoft, 2023. "Total Economic Rents in Australia as a Source for Basic Income," Exploring the Basic Income Guarantee, in: Richard Pereira (ed.), Financing Basic Income, edition 2, chapter 0, pages 95-117, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-3-031-29012-1_5
    DOI: 10.1007/978-3-031-29012-1_5
    as

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