Re-Satisfying Rodrik’s
Original Trilemma
Original Trilemma
HM
by Harry McLaverty
The globalisation trilemma is broken
Income tax out, wealth tax in
Synthetic labour is here…
“I would challenge those listening to this speech to not think of AI as a specific technology, but instead as a type of human labor – one that can be bought and sold at the speed of a computer, and one which is getting cheaper and more capable over time” — Jack Clark
…and so are real-time asset valuations…
We now have the technology to value assets in real-time without trading them, meaning that we can calculate a person’s tax bill based on their assets, not income
…thanks to cryptoeconomic primitives
1
Convert ownership certificates to non-fungible tokens (NFTs)
2
Upgrade council tax to a soft Harberger Tax
3
Replace income tax revenue with asset tax revenue
We can repurpose the flawed research…
To implement this upgrade, we will have to repurpose existing research
In the UBI context, this will involve the re-analysis of existing pilot schemes, and where we can reapply learnings in the ‘global state pension’ context
In the UBI context, this will involve the re-analysis of existing pilot schemes, and where we can reapply learnings in the ‘global state pension’ context
…and implement using novel protocols
“We think of Tempo as the payments-oriented L1, optimized for high-scale, real-world financial services applications” — Patrick Collison
The trilemma will break again…
