Is Basic Income distributive?

Redistributive taxation need not be the only source of funding for basic income. Alaska’s dividend scheme (O’Brien & Olson 1990, Palmer 1997) is funded out of part of the return on a diversified investment fund which the state built up using the royalties on Alaska’s vast oil fields. In the same vein, James Meade’s (1989, 1993, 1994, 1995) blueprint of a fair and efficient economy comprises a social dividend funded out of the return on publicly owned productive assets. Finally, there has been a whole sequence of proposals to fund a basic income out of money creation, from Major Douglas’s Social Credit movement (see Van Trier 1997) and Jacques and Marie-Louise Duboin’s (1945, 1985) Mouvement français pour l’abondance to the recent writings of Joseph Huber (1998, 1999, 2000 with J. Robertson).