By Robert Scheer
Source: Read full article at Truthdig
There’s no denying that Nicolas Berggruen, the German American billionaire founder and president of the private investment company Berggruen Holdings as well as the think tank Berggruen Institute, has benefited from a global capitalist system that has fueled historic inequality. But even he can see how broken the current economic and political systems in place in the West are, so he’s come up with a plan to try to revamp democracy as we know it.
Think of it as “universal basic capital instead of universal basic income,” Berggruen tells Truthdig Editor in Chief Robert Scheer in a discussion about the billionaire’s book, “Renovating Democracy: Governing in the Age of Globalization and Digital Capitalism.” What Berggruen advocates for is a fresh restructuring of democratic governance frameworks that would guarantee adequate living conditions for workers regardless of employment status. At a time in which jobs are quickly being eaten up by rapidly advancing technology, employment should not determine a person’s right to having their basic needs accounted for, the Berggruen Holdings founder and his coauthor, Nathan Gardels, argue in their…