Innovation US economic concentration is at an all-time high, while US entrepreneurial ship is at an all-time low – generational empirics prove. Derek Thompson 16, senior editor @ The Atlantic, where he writes about economics, labor markets, and the media. “America's Monopoly Problem.” The Atlantic , Atlantic Media Company, 11 Sept. 2016, , NG Entrepreneurship , as measured by the rate of new-business formation, has declined in each decade since the 1970s, and adults under 35 (a k a Millennials) are on track to be the least entrepreneurial generation on record. This decline in dynamism has coincided with the rise of extraordinarily large and profitable firms that look discomfortingly like the monopolies and oligopolies of the 19th century. American strip malls and yellow pages used to brim with new small businesses . But today , in a lot where several mom-and-pop shops might once have opened, Walmart spawns another superstore. In almost every sector of the economy —including manufacturing, construction, retail, and the entire service sector—the big companies are getting bigger. The share of all businesses that are new firms, meanwhile, has fallen by 50 percent since 1978. According to the Roosevelt Institute, a liberal think tank dedicated to advancing the ideals of Franklin and Eleanor Roosevelt, “ markets are now more concentrated and less competitive than at any point since the Gilded Age.” Universal basic income is key to financial security. Scott Santens 16, “Universal Basic Income Will Accelerate Innovation by Reducing Our Fear of Failure.” Medium, Basic Income, 30 Nov. 2016, medium.com/basic-income/universal-basic-income-will-accelerate-innovation-by- reducing-our-fear-of-failure-b81ee65a254. If everyone received as an absolute minimum , a sufficient amount of money each month to cover their basic needs for that month no matter what— an unconditional basic income —then the fear of hunger and homelessness is eliminated . It’s gone. And with it, the risks of failure considered too steep to take a chance on something. But the effects of basic income don’t stop with a reduction of risk. Basic income is also basic capital. It enables more people to actually afford to create a new product or service instead of just think about it , and even better, it enables people to be the consumers who purchase those new products and services, and in so doing decide what succeeds and what fails through an even more widely distributed and further decentralized free market system. Such market effects have even been observed in u niversal b asic i ncome experiments in Namibia and India where local markets flourished thanks to a tripling of entrepreneurs and the enabling of everyone to be a consumer with a minimum amount of buying power.
- Summer '20
- Entrepreneurship, Technological singularity, UBI, Basic Income Earth Network