There was a story on the New York Times’s “The Daily” podcast about taxi drivers committing suicide because of the depreciation of their medallions. Every death is tragic, suicide or otherwise, and it’s injurious to human dignity that we place people in such precarious positions that suicide seems an appropriate response to monetary woes.
But I still can’t bring myself to support the existence of the medallion system. It SHOULD be destroyed; the world would be better off without it.
So, can we implement universal basic income now? Or some other form of social insurance sufficiently effective that disruption of outdated technology and ossified institutions doesn’t distrupt the livelihoods of the people who previously survived off those institutions?
Otherwise, we will continue to lose loved ones to the limitations of capitalism as we struggle against our flawed system.