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6 Comments

  1. Personal accounts idea is very interesting. Im currently reading “Affordable excellence”, a book on singaporean health system. (Think kindle version is still free on amazon). Anyways , it reminds me very much of a Central Provident Fund british set up for singapore in colonial times. It was for retirement purposes. Today its subaccounts are used for retirement, insurance and health. Every now and then the government puts some money, in addition to peoples savings, into the medical account, to let them share prosperity the society created. When I read it I immediately thought of this Idea of yours.

    Greets

    Reply
  2. Benjamin Cole

     /  December 19, 2013

    Nice ideas.

    Reply
  3. Intriguing. Reminiscent of a policy (whose details escape me, and which my glitchy phone discourages me from reaearching at this moment) in Alaska, whereby each citizen is entitled to a sort of dividend payment, related to the revenues generated by the development of its mineral wealth.

    I’d need to think more deeply on this, but I’m not seeing any *obvious* show-stoppers (particularly given the GARGANTUAN indigenous energy resources of recent discovery).

    Reply
    • Thanks Tobias,

      Yes, my proposal is similar to the Alaska scheme – even though my suggestion is somewhat more broad-ranging.

      I think it my suggestion makes a lot of sense in particularly developing markets where the “initial” distribution of wealth and income is “unjust” do to totalitarian regimes and lack of a respect for the rule of law and property rights.

      Take a country like Russia – did the oligarchs for example acquire their wealth in a “fair” way? Most likely not. So even libertarians in the spirit of Thomas Paine could support some level of income redistribution to undo these injustices.

      Reply
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