Unruly State of Affairs in the United States of America

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How Subtle Differences Between These Two Big Ideas Changed Our World

By: Brian Miller for AMMO.COM  

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Freedom vs. Liberty: A Guide to Defining Independence and Why it Matters

 

“I see the liberty of the individual not only as a great moral good in itself (or, with Lord Acton, as the highest political good), but also as the necessary condition for the flowering of all the other goods that mankind cherishes: moral virtue, civilization, the arts and sciences, economic prosperity. Out of liberty, then, stem the glories of civilized life.”

The terms "freedom" and "liberty" have become clichés in modern political parlance. Because these words are invoked so much by politicians and their ilk, their meanings are almost synonymous and used interchangeably. That's confusing – and can be dangerous – because their definitions are actually quite different.

"Freedom" is predominantly an internal construct. Viktor Frankl, the legendary Holocaust survivor who wrote Man's Search For Meaning, said it well: “Everything can be taken from a man but one thing: the last of the human freedoms – to choose one’s attitude in any given set of circumstances, to choose one’s own way (in how he approaches his circumstances).”

In other words, to be free is to take ownership of what goes on between your ears, to be autonomous in thoughts first and actions second. Your freedom to act a certain way can be taken away from you – but your attitude about your circumstances cannot – making one's freedom predominantly an internal construct.

On the other hand, "liberty" is predominantly an external construct. It's the state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views. The ancient Stoics knew this (more on that in a minute). So did the Founding Fathers, who wisely noted the distinction between negative and positive liberties, and codified that difference in the U.S. Constitution and Bill of Rights.

The distinction between negative and positive liberties is particularly important, because an understanding of each helps us understand these seminal American documents (plus it explains why so many other countries have copied them). The Bill of Rights is a charter of negative liberties – it says what the state cannot do to you. However, it does not say what the state must do on your behalf. This would be a positive liberty, an obligation imposed upon you by the state.

Thus in keeping with what the late Murray Rothbard said above, the liberty of the individual is the necessary condition for the flowering of all the other "goods" that mankind cherishes. Living in liberty allows each of us to fully enjoy our freedoms. And how these two terms developed and complement one another is important for anyone desiring to better understand what it means to be truly free.

Etymology of Freedom and Liberty

Freedom vs. Liberty: A Guide to Defining Independence and Why it Matters

 

To better understand what freedom and liberty mean, it's helpful to look at the respective etymologies of these words, digging into their histories and how they developed.

Freedom comes from Old English, meaning “power of self-determination, state of free will; emancipation from slavery, deliverance.” There were similar variants in Old Frisian such as “fridom,” the Dutch “vrijdom,” and Middle Low German “vridom.”

Liberty comes from the Latin “libertatem” (nominative libertas), which means “civil or political freedom, condition of a free man; absence of restraint, permission.” It’s important to note that the Old French variant liberte, "free will," has also shaped liberty's meaning. In fact, William R. Greg’s essay France in January 1852 notes that the French notion of liberty is political equality, whereas the English notion is rooted in personal independence.

In an interview with Lew Rockwell, Professor Butler Shaffer makes some interesting distinctions between freedom and liberty. Shaffer argues that freedom is the “condition that exists within your mind, within my mind. It’s that inner sense of integrity. It’s an inner sense of living without conflict, without contradiction, without various divisions and so forth.”

This point of view is in line with the philosophy of the Stoics. They believed that a person’s body can be physically imprisoned, but not his mind (much like Viktor Frankl famously said in his Man's Search for Meaning). Shaffer adds to the distinction:

“Liberty is a condition that arises from free people living together in society. Liberty is a social condition. Freedom is the inner philosophical and psychological condition.”

In short, freedom is inherent to humans. It exists within them by virtue of their humanity. Liberty is a political construct that allows people to enjoy freedoms such as property rights, free speech, freedom of association, etc.

Sadly, liberty has not been the natural state of mankind. History has shown that liberty – particularly of the individual – has been a distinguishing feature of Western societies, especially in the early years of the United States.

Negative Rights vs. Positive Rights

One of the structural problems with American politics since the advent of the Progressive Era in the early 20th century has been the emphasis on positive rights (aka "positive liberties," a misnomer at an individual level if there ever was one) at the expense of negative ones. What are the differences between negative and positive rights?

Philosophy professor Aeon Skoble provides a good summary:

“Fundamentally, positive rights require others to provide you with either a good or service. A negative right, on the other hand, only requires others to abstain from interfering with your actions. If we are free and equal by nature, and if we believe in negative rights, any positive rights would have to be grounded in consensual arrangements.”

For example, private property, free speech, and freedom of association are negative rights. In other words, these are rights that prevent others – above all, the state – from transgressing on you personally or on your property.

Along with these rights come responsiblities. In other words, you must bear the consequences of your actions as you exercise them. This is why you can't "falsely shout fire in a theatre and cause a panic" without bearing the consequences of the panic you caused, as Justice Oliver Wendell Holmes noted in Schenk v. United States in 1919.

Like all negative rights, free speech comes with responsibility; if you use that speech to spread information which is false and causes harm, then you're not protected carte blanche. Others can petition the court for the panic you've caused as a result of your exercise of free speech.

On the other hand, positive rights are granted by the government and involve the trampling of an individual or another class of individuals’ rights. These kinds of rights – like state-funded healthcare or public education – are justified on abstract grounds, such as the “public good” or the “general will.” By their very nature, they require the state to take from one group in order to give to another, usually in the form of taxes.

Appeals to the general will originate from the famous 18th century French philosopher Jean-Jacques Rousseau, who emphasized that a strong government makes individuals free and that individuals submit to the state for the sake of the greater good. If that sounds backwards to you, you're not alone.

Author James Bovard highlights some of the follies behind Rousseau’s thinking:

“Rousseau's concept of the general will led him to a concept of freedom that was a parody of the beliefs accepted by British and American thinkers of his era. Rousseau wrote that the social contract required that ‘whoever refuses to obey the general will shall be compelled to do so by the whole body. This means nothing less than that he will be forced to be free.’ ”

In other words, if you don't want to go along with the "will of the people" (or as Rousseau defined it, "the general will"), then the state can compell you to do so – even if that means trampling your individual rights and responsibilities.

Bovard also noted how Rousseau’s concept of freedom had nothing to do with the independence of the individual:

“C. E. Vaughan, in a 1915 study of Rousseau's work, correctly observed that, for Rousseau, ‘freedom is no longer conceived as the independence of the individual. It is rather to be sought in his total surrender to the service of the State.’ "

Rousseau (1712-78) was the first of the modern intellectuals, and one of the most influential Englightenment thinkers. He died a decade before the French Revolution of 1789, but many contemporaries held him responsible for it, and so for the demolition of the Ancien Regime in Europe.

One can see how Rousseau's ideas translated into actions when comparing the French Revolution to the American one. After all, ideas matter – especially in revolutionary politics.

French vs. American: A Tale of Two Revolutions

Freedom vs. Liberty: A Guide to Defining Independence and Why it Matters

 

The French and American Revolutions happened within a dozen years of one another, yet they centered around two very different concepts of individual liberty. For the French, the goal was to ensure political equality. For the Americans, it was personal independence. This distinction helps shed light on what made the outcomes of the two Revolutions so different.

The French Revolution devolved into chaos when revolutionary zealots like Maximilien Robespierre became the de facto head of the Committee of Public Safety. Under the Committee’s direction, Robespierre conducted the infamous “Reign of Terror” against all opponents of the French Revolution. Robespierre was inspired in part by Rousseau, stating: "Rousseau is the one man who, through the loftiness of his soul and the grandeur of his character, showed himself worthy of the role of teacher of mankind."

If Thomas Jefferson was to Rousseau the facilitator of their respective Revolutions, then Robespierre was to General Washington – the implementor.

During his despotic period of leadership, Robespierre went as far as to create a Cult of the Supreme Being, a state religion based on secularism. This was part of Robespierre’s revolutionary program to completely destroy France’s Roman Catholic tradition in pursuit of an ambiguous "political equality" amongst the masses. Instead of trying to fight for freedom-based principles like the Founding Fathers did, Robespierre was more concerned with destroying all features of French civic society in the name of progress.

In a cruel twist of irony, Robespierre and his Committee of Public Safety behaved more like the previous French monarchy once they seized control. For that reason, the French Revolution turned into a chaotic murder spree that saw tens of thousands of people executed at the guillotine for simply opposing Robespierre’s vision. In the end, Robespierre got a taste of his own medicine, when the French National Convention arrested him and put him to death on July 28, 1794.

It took a young upstart general in Napoleon Bonaparte to put an end to the 15-year chaos of the French Revolution. France reverted back to monarchical rule when Napoleon became emperor in 1804, which restored some semblance of political stability to the crisis-beleaguered nation.

France reached great heights under Napoleon’s rule, in which the country dominated a substantial portion of Europe. However, Napoleon would be defeated and forced into exile in 1815. France went back to its monarchical system, albeit with certain republican features, when Louis XVIII assumed the throne from 1815 to 1824. France did not morph into a genuine republic until 1848, when the Second Republic was established. However, France swung from imperial to republican governments until 1871, when the Third Republic of France came into power.

The road to political stability in France was rather rocky, and was a demonstration that flawed ideas about the tenuous relationship of the state's role in an individual's life can be deadly. Unfortunately, most countries across the globe have taken after France’s example of governance as opposed to the American model.

Latin America is arguably the best example of this.

Condemned to Mediocrity: Latin America’s Misunderstanding of Liberty

Freedom vs. Liberty: A Guide to Defining Independence and Why it Matters

 

Etched above the entrace to the Colombian Palace of Justice is a quote by General Francisco de Paula Santander:

"Colombianos las armas os han dado la independencia, las leyes os darán la libertad" (Colombians arms have given us independence, laws will give us liberty)

Santander’s quote was indicative of the stark difference in political philosophies of the Latin American Wars of Independence from Spain and the American War of Independence from Great Britain. He and his counterpart, Simón Bolívar, were not inspired by classically liberal ideas of an individual's inalienable rights – hence Santander’s belief that liberty comes from the state, not from natural law as Thomas Jefferson wrote in the American Declaration of Independence:

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed.”

Jefferson's philosophy held that an individual's unalienable rights are not given to one in a document, but by their Creator (and subsequently codified in the Bill of Rights "in order to prevent the misconstruction or abuse of its powers" as it states in the preamble.) In other words, an unalienable right is God-given. It isn’t granted by a president, a king, or any government – otherwise it can be taken away.

Santander and his counterpart Bolivar didn't share Jefferson's view. Juan Baustista Alberdi, one of Latin America’s premier classical liberal thinkers in the 19th century, understood the major distinctions behind the Latin American and American Wars of Independence in his essay Omnipotence of the State:

“Washington and his contemporaries were more interested in fighting for individual rights and liberties than just fighting for independence of their country. Once they attained the former, they were able to achieve the latter, as opposed to South American countries, who won their political independence but did not obtain individual freedoms.”

The Founding Fathers fought, above all, for the restoration of the liberties they enjoyed as Englishmen, which were usurped by the tyranical King George III. On the other hand, Latin American leaders were fighting for independence from Spain – and not much else. There wasn't an underlying belief in an individual's unalienable rights. Instead, in their view, these rights were granted by the state and their laws, and consequently could also be taken away.

Bolivar in particular feared introducing too much liberty to the uneducated masses once Spainish rule ended. He foresaw anarchy, and thus believed in the necessity of a strong central authority once Gran Colombia gained independence. (Gran Colombia was made up of Colombia, Ecuador, Panama, and Venezuela.) These were the views of a man raised in the Caracas elite.

Bolivar (1783-1830) was born into aristocracy in Caracas. He was a product of the Enlightenment, and was strongly influenced by Jean-Jacques Rousseau. Just like Robespierre in France, Boliver was entranced by Rousseau's ideas. In particular he subscribed to Rousseau’s “general will” concept, which called on the intellectual and educated elite to identify what's in the best interest of the people. Picture the state serving as a "benevolent guiding hand" if you will; except that it won't be benevolent if you don't go along with where that hand is guiding you.

Bolívar believed that past subjugation under Spanish colonial rule left many of the Gran Colombia people ignorant and unable to acquire knowledge, power or civic virtue. Therefore, supposedly in the name of the "greater good," Bolívar believed that these people should be freed – but not given too much individual liberty. He says as much in his famous Cartagena Manifesto, where it's clear he was not a fan of federalism:

“But what most weakened the government of Venezuela was the federalist structure it adopted, embodying the exaggerated notion of the rights of man. By stipulating that each man should rule himself, this idea undermines social pacts and constitutes nations in a state of anarchy. Such was the true state of the confederation. Each province governed itself independently, and following this example, each city claimed equal privilege, citing the practice of the provinces and the theory that all men and all peoples have the right to institute whatever form of government they choose. The federal system, although it is the most perfect and the most suitable for guaranteeing human happiness in society, is, notwithstanding, the form most inimical to the interests of our emerging states.”

In Bolívar’s view, the 1812 collapse of the First Republic of Venezuela was due to its decentralized federal system, which demonstrated that the First Republic in fact needed to have stronger state control. After independence was achieved throughout most of Latin America in 1821, Bolívar established Gran Colombia – an even larger territory with stronger centralized power.

Bolívar had lofty aspirations for Gran Colombia. He saw it as a potential powerhouse that would rival the U.S. and European powers by implementing Rousseua's "general will" concept. However, Bolivar’s dreams did not go as planned. By 1828, Gran Colombia was on the ropes due to internal turmoil and political infighting.

There is a parallel here with the U.S. Articles of Confederation. It lasted eight years before the Continental Congress in Philadelphia replaced it with the U.S. Constituion, primarily because the federal government was too weak to pay their Revolutionary War debts. Gran Colombia lasted seven years before it began to implode. However, unlike the Continental Congress, which convened to replace the U.S. Articles whilst still protecting an individual's inalienable rights, Bolivar dissolved the Constitutional Convention of Ocaña because he was unable to reform the Constitution of Gran Colombia. He then did what all good dictators do – he declared himself in charge of the Republic of Colombia, making it abundantly clear that Colombia was in fact no longer a republic.

The Gran Colombia experiment would come to a grinding halt in 1830, when Ecuador, New Granada (present-day Colombia), and Venezuela decided to break away and carve out their own national paths.

Gran Colombia’s dissolution made Bolívar pause and reflect. At the end of his life, he'd been driven out of politics, into exile, and knew he would die soon. In his letter to General Juan José Flores, Ploughing the Sea, Bolívar was blunt about his concerns for Latin America’s future:

“You know that I have ruled for twenty years, and I have derived from these only a few sure conclusions: (1) (Latin) America is ungovernable, for us; (2) Those who serve revolution plough the sea; (3) The only thing one can do in (Latin) America is emigrate; (4) This country will fall inevitably into the hands of the unrestrained multitudes and then into the hands of tyrants so insignificant they will be almost imperceptible, of all colors and races; (5) Once we’ve been eaten alive by every crime and extinguished by ferocity, the Europeans won’t even bother to conquer us; (6) If it were possible for any part of the world to revert to primitive chaos, it would be (Latin) America in her last hour.”

Since then, Latin America would experience decades of political and economic instability. Despotism, the non-existence of the rule of law, and economic interventionism have been hallmarks of Latin American politics for the past century and a half. One could argue this is due to the fact that there is no philosophical basis in an individual's unalienable right. It is only a matter of power.

One needn’t look further than present-day Venezuela to see what happens when collectivism becomes part and parcel of the political culture. Ideas like individual liberty and personal responsiblity form the philosophical bedrock of a functioning republic. Their adoption can be the difference between generational poverty or prosperity for nations.

A Warning to the United States

Freedom vs. Liberty: A Guide to Defining Independence and Why it Matters

 

The manipulation of what liberty and an individual's rights and responsibilities constitute has already made its way to the U.S., where the lack of understanding of what liberty truly means has been apparent since the advent of the Progressive Era.

During this period, political pundits and economic theorists became obsessed with scientism, which is “the over-reliance on or over-application of the scientific method” as a means of trying to move society forward towards an ambiguous utopia. Instead of focusing on the defense of foundational principles like liberty and the rights and responsibilities of the individual, 20th-century intellectuals focused more on “scientific” ways to plan society from the top down. The state would obviously be the main driver, and its central planning would make people “free."

However, such a view encountered pushback during the 20th century. Economist Ludwig von Mises courageously stood up to this top-down vision and exposed the limits of science in his work Planned Chaos:

“Science is competent to establish what is. It can never dictate what ought to be.”

Mises’ warning unfortunately fell on deaf ears. Progressivism’s apex came about during the administration of Woodrow Wilson.

In that period, the income tax and the Federal Reserve were established, while the U.S. embarked on its most expansive foreign adventure to date when the Wilson Administation (supported by powerful bankers like J.P. Morgan) led America into World War I under false pretenses, lying about the sinking of the passenger ship Lusitania by German submarines. This war would pave the way for increasing levels of government intervention, as witnessed during the New Deal and Great Society Eras where the warfare/welfare state became even more consolidated. To this day, Washington's power in the lives of private citizens continues to grow without much pushback.

Discussions about freedom and liberty – as well as the important distinction between negative and positive liberties, which form the bedrock of the U.S. Constitution and Bill of Rights – have become quite quaint, as people use these words in Orwellian fashion to justify a litany of government intrusions in our lives. When we let their meanings become obscurred, we cede to those whose underlying goal is more state power the ability to manipulate the public for their own tyrannical ends. We not only need to comprehend the differences between freedom and liberty, but also recover their original meaning so that there is foundational clarity in political discussions.

Brian Miller
Written by
Brian Miller
 
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    THE ABUNDANCE PARADIGM: WHY AI FORCES A RETHINKING OF MONEY ITSELF — PART 1

    By Ellen Brown on May 11, 2026

    A Universal Basic Income (UBI) has long been proposed as a way to cushion the blow of jobs lost to automation. Under that model, everyone receives a modest monthly payment – enough to cover basic needs and prevent extreme poverty. 

    But Elon Musk has gone further. On April 16, he posted on X:

    Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI.

    Rather than a subsistence stipend, Universal High Income (UHI) would be a level of income allowing ordinary people to live well in a world where machines do most of the work. Musk has also said that AI and robotics are the only things that can solve the massive U.S. debt crisis. 

    That sounds promising, but where will the government get the money to pay the UHI? Critics say any government that tried it would go bankrupt. There are also other concerns, which will be addressed in Part 2 of this article. Here we will look at the financial underpinnings: why UHI is even thinkable, why AI forces a reexamination of how money enters the economy, why the current system cannot scale to meet what is coming, and the implicit transition needed to meet that challenge.

    Why the Current Money System Cannot Scale

    The national debt of the U.S. government just topped $39 trillion. China’s is $18.7 trillion. Japan’s is $8.6 trillion. Those of the UK, France, Germany, Italy and Spain are each in the multi-trillion-dollar range. Collective global debt now stands at $353 trillion, 305% of the world’s annual economic output. So even if, hypothetically, everything produced in the world in a year were applied toward liquidating the debt, it still would not be enough to pay it all off. 

    In fact the debt can never be repaid, because of the way money currently enters the system. Nearly all of the money supply today is created by banks when they make loans. Banks do not lend their existing capital. The loan itself creates the money. The bank adds the loan amount to the asset side of its balance sheet and balances that sum with the same amount on the liability side. When the borrower withdraws or transfers the funds, either the bank takes them from its reserves in “vault cash” or the Federal Reserve debits the bank’s digital reserve account at the central bank. But the lending bank typically has funds coming into its reserve account at about the same rate as they are going out, so its reserves are continually replenished. Thus a very small reserve account can support a much larger money creation engine. For decades before the Fed discontinued the reserve requirement in 2020, it hovered at around 10%.

    The chief problem with this debt-based system is the interest, which the bank does not create in its original loan. For a typical long-term loan, interest can double the total tab or more. Where is the money to come from to pay this added liability? Across the system as a whole, it must either come from more borrowing or from existing funds. In the case of governments, that means issuing interest-bearing bonds or tapping taxes and other revenues. The interest on the debt compounds, meaning the government is paying interest on interest. This makes the debt increase exponentially, until it is mathematically unsustainable. Then bankruptcies occur, of banks or even whole governments. Booms turn into busts, and the cycle begins again.

    Today, interest on the federal debt is the second largest budget line item after Social Security, exceeding $1 trillion. Meanwhile, workers are losing jobs to AI/robotics, shrinking the income tax base. The system is clearly unsustainable.

    How to Raise Demand to Scale to the Upcoming Supply

    A Universal High Income would replenish the shrinking tax base by replacing the lost wages of unemployed workers. But where will the money come from to pay the UHI? The only sustainable solution is for the government to issue it interest-free. That does not mean through the Federal Reserve, which creates money in the same way banks do: it buys federal interest-bearing securities with accounting entries. The Fed collects the interest, which it is supposed to return to the Treasury after deducting its costs. But since 2008, its costs include paying interest on the reserves of its participating banks, which consumes its profits. (See my earlier article here.) 

    The only interest-free, debt-free solution that will actually increase the money supply sufficiently to match the projected productivity of AI/robotics is for the money to be issued directly by the Treasury.

    This is not a radical new idea. It is authorized in the U.S. Constitution, which provides in Article 1, Sec. 8, that “The Congress shall have Power To … coin Money [and] regulate the Value thereof .…” Abraham Lincoln used government-issued “Greenbacks” to avoid a crippling debt to British-backed bankers. Debt-free government-issued money was also the funding mechanism by which the American colonists succeeded in creating a thriving economy and liberating themselves from the oppressive yoke of the British Empire.

    In his 1729 pamphlet “A Modest Inquiry into the Nature and Necessity of a Paper-Currency,” Benjamin Franklin argued that a lack of currency was a tax on industrious farmers and producers, and that a reliable, locally issued paper currency was the “oil” for the gears of trade. The “Nature and Necessity” of this currency was to facilitate the movement of goods between neighbors. Franklin observed that the British strategy of keeping the colonies short of cash was a method of economic suppression. By forcing the colonies to use gold and silver, which were constantly drained back to London to pay for imports, the Crown kept the colonies in a state of permanent debt and low productivity. When the money supply matched the productive capacity of the people, universal prosperity resulted without inflation. 

    This logic evolved into the “American System of Political Economy” championed by Henry Carey, economic advisor to Abraham Lincoln. He wrote:

    Two systems are before the world… One looks to pauperism, ignorance, depopulation, and barbarism; the other in increasing wealth, comfort, intelligence, combination of action, and civilization. … One is the English system; the other we may be proud to call the American system, for it is the only one ever devised the tendency of which was that of elevating while equalizing the condition of man throughout the world.

    In the context of the 21st century, the “oil” that best lowers the friction of trade is debt-free government-issued money similar to Lincoln’s Greenbacks and colonial scrip. Rather than implementing a radical financial innovation, we would be returning to our roots.

    Inflation or Deflation?

    The chief objection to the colonies’ paper “scrip” was that they tended to over-print, so that “demand” (money) outstripped supply. Too much money chasing too few goods produced price inflation. But in the 21st century, we will soon have the opposite problem: too little money chasing too many goods. Machines don’t need food, clothing, shelter, transportation, medical treatment or other services. So who will buy those goods and services? 

    Money needs to be issued to human consumers, and not just to a few wealthy human consumers serving as debt brokers thriving on interest. To create sufficient demand for the voluminous output of AI/robotics, it needs to go to the whole national population, evenly distributed. Not only can UHI work in that sort of abundant supply without producing price inflation; it is actually essential to prevent deflation.

    In a conversation on X, Musk wrote:

    In a normal economy, issuing more money simply increases the dollar price of the existing output of goods & services, meaning people do NOT get more stuff. If AI/robotics massively increase goods & services output, then you actually MUST issue dollars to people or there will be massive disinflation. 

    As paraphrased on Yahoo Finance (reposted from Benzinga), Musk wrote that handing out more dollars becomes a problem only when the economy’s supply of goods and services fails to surge alongside the money supply. His claim is that AI and robotics could lift production so sharply that the bigger risk would be falling prices, not rising ones.

    But aren’t falling prices a good thing? In this case, no. Prices would be falling due to a lack of demand, meaning producers can’t find customers for their products. They wind up laying off workers and eventually going bankrupt. When spread across the whole economy, the result is a deflationary spiral: prices fall, businesses lose revenue, and the economy contracts, not because production is inadequate but because purchasing power is insufficient. The result is recession or depression. In the Great Depression of the 1930s, food was rotting in the fields while people were starving, because they were out of work and had no money to spend. 

    Job cuts from AI are already happening. According to the same Benzinga article:

    Evidence of near-term strain is showing up in corporate announcements: employers disclosed more than 27,000 job cuts linked to AI in the first quarter of 2026, according to Challenger, Gray & Christmas. The outplacement firm said that figure was up 40% from the same period a year earlier. 

    Robert Reich reports that wages are around two-thirds of the typical corporation’s total cost, and that in the first four months of 2026, big U.S. corporations cut over 128,000 jobs. 

    How Soon Will All This Happen?

    Another Benzinga article, reposted on Yahoo Finance on March 16, detailed Musk’s projected time frame:

    Speaking remotely to the Abundance Summit last week, Musk told XPRIZE founder Peter Diamandis that the global economy is on the verge of an explosion so massive it defies historical precedent.

    “I’d say the economy is 10 times its current size in 10 years,” Musk said, before quickly clarifying that the growth could be even more explosive. “Greater than,” he added, framing the projected shift in economic output as a “fairly comfortable prediction.” …

    Ray Kurzweil, author of The Singularity Is Near, sees AI reaching Artificial General Intelligence (human-level intelligence across virtually all domains) by 2029, and full transformative abundance by 2045.

    Other experts question these time projections, but a radical transformation of traditional manufacturing and trade is likely to happen sometime in the reasonably near future. The question is, will the money system transition soon enough to rescue all the laid-off workers from homelessness and famine?

    The Sovereign Wealth Fund Alternative

    There is another model for distributing the gains of automation, one that can be phased in gradually as the AI workforce expands. It comes from Sam Altman, CEO of OpenAI. In an ironic twist, Altman and Musk, who jointly founded OpenAI in 2015, are now locked in a high-profile legal battle over whether Altman diverted Musk’s $44 million investment to transform what was conceived as a nonprofit “for the benefit of humanity” into a highly lucrative for-profit enterprise.

    That dispute aside, Altman’s alternative model for sharing AI-generated wealth is a national sovereign wealth fund seeded by the profits of AI and robotics. His proposed American Equity Fund would take public stakes in the companies and technologies driving automation, capture a portion of the resulting productivity gains, and distribute them as universal dividends. The Fund would not replace a Universal High Income but would complement it.

    This approach has several advantages. It ties payments directly to real output, scales automatically with productivity, and can be introduced gradually, avoiding the shock of issuing large payments before the supply side has fully expanded. It would resemble the Alaska Permanent Fund, which distributes oil revenues to residents, except that here the resource would be the most powerful general-purpose technology since electricity.

    Conclusion: A New Monetary Logic for a New Productive Era

    For centuries, money has been issued as a claim against the future productivity of human labor, repaid from the income that labor generates. The logic of this debt-based system collapses when machines become the primary producers of goods and services. Then the limiting factor becomes purchasing power — the ability of human beings to access the abundance their own technologies create. That requires a monetary architecture that expands with output rather than debt, and distributes income not through wages alone but through mechanisms tied to the productive capacity of the whole system.

    Universal High Income and a sovereign wealth fund are two ways of doing that. One ensures a stable floor of demand; the other ensures that the public shares in the gains of automation. Both would be grounded in real production. But for the public to have access to those gains, the money supply needs to expand in proportion to the expanding pool of goods and services. This can be done by restoring the innovation our forefathers baked into the Constitution: debt-free money issued by the government itself.

    How to fund a UHI without triggering inflation or driving the government into bankruptcy is the first objection critics raise, but there are others. They argue that people would stop working or stop learning, that society would collapse into idleness or chaos, that life would lose meaning without jobs, that the government would have the power to control how people spend their money.  Will a UHI ring in the promised utopia or lock us into a state-controlled digital prison? Part 2 of this article will address those concerns. 

    _______________

    This article was first posted as an original to ScheerPost.com. Ellen Brown is an attorney, founder of the Public Banking Institute, and author of thirteen books including Web of DebtThe Public Bank Solution, and Banking on the People: Democratizing Money in the Digital Age. Her 400+ blog articles are posted at EllenBrown.com.tom of Form

     

     

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    WAY TO GO MR PUTIN - RUSSIA FINALIZES 'LBGTQ PROPAGANDA' BAN

    Posted By: The_Fox [Send E-Mail]
    Date: Thursday, 1-Dec-2022 05:31:08
    www.rumormill.news/212414

     

    Many a time I often think about moving to Russia, so sick and tired of living here in the West.

    Over there things get done and child molesters etc don't just get away with a slapped wrist, free to again prey on the innocent.

    Those promoting society's moral decay will now have to answer for their actions also.

    Way to go Mr Putin.

    Read more: 'LBGTQ PROPAGANDA' BAN