“If Industry’s objective is more efficiently carried out by the use of machinery, automation and now robots, than by the use of man-power, then we must expect a progressive increase in unemployment.” That was understood in the early years of the 20th century. What about now in the early years of the 21st century? The issues have become more pressing. Elizabeth Holter published a little book in 1934 explaining in simple terms what she understood as “The ABC of Social Credit”. As she explained in the Introduction, the past few hundred years have seen the transformation of the world. Before James Watt invented the first practical steam engine, the struggle for existence required all man’s time and energies and scarcity and want was never far removed, and always to be reckoned with. And then ‘scarcity in an age of plenty’ loomed large because mankind had not grasped the dramatic changes that had taken place and his systems/institutions were based on policies originating in an earlier age.
But we are now in the early part of the 21st century and with the Robotic Revolution and the growing Precariat (precarious unemployed and ever-growing personal and national debt)) there are those who are putting forward ideas on how to provide a Basic Income, and/or Positive Money for all citizens.