Are we witnessing the rise Neo-Socialism? The words change, the data-set is new, but the story remains the same:
With globalisation, the share going to labour has withered everywhere, in countries as diverse as China, India, the UK, USA and Norway. In the future, the only way those relying on labour could raise their living standards will be by sharing the rental income gained by finance and capital investment in the global economy. We must imagine a new system of distribution, in which the whole of society receives a share of the rental income currently being taken wholly by financial capital.
Plus, there is a new acronym to be worried about, ESC (Economic Stabilisation Credit) aka individual, unconditional basic income.
Read the whole thing here.