Most discussions of Basic Income revolve around two clusters of issues: first, the normative implications of Basic Income for various conceptions of justice, and second, the pragmatic problems of the sustainability of basic income given a range of economic considerations including such things as effects on tax rates, incentives, labor markets, and so on. These are obviously important issues, but I want to explore a different sort of question: In what ways can a guaranteed basic income be considered part of a broad socialist challenge to capitalism?
This may seem to some people a somewhat irrelevant question, perhaps even a stupid question, since the very idea of socialism has lost so much of its intellectual and political appeal in recent years. The idea that there is a feasible systemic alternative to capitalism, either in the sense of a workable design for alternative economic institutions, or in the sense of a politically achievable goal, seems very far-fetched to many people who still share the traditional socialist criticisms of capitalism.
Author: Erik Olin Wright
Erik Olin Wright (February 9, 1947 – January 23, 2019) was an American analytical Marxist sociologist, specializing in social stratification, and inegalitarian alternative futures to capitalism. He was known for diverging from classical Marxism in his breakdown of the working class into subgroups of diversely held power and therefore varying degrees of class consciousness. Wright introduced novel concepts to adapt to this change of perspective including deep democracy and interstitial revolution.