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Jeffrey S. Nielsen: Use this moment to rethink our economic system

People wait in line for help with unemployment benefits at the One-Stop Career Center, Tuesday, March 17, 2020, in Las Vegas. Nevada Department of Employment, Training and Rehabilitation and its partner organizations, like the One-Stop Career Center, have seen an increase in traffic due to the coronavirus. (AP Photo/John Locher)

The stoic philosophers taught that everything that happens has two handles — an obstacle handle and an opportunity handle. Meaning we choose how to respond to life’s challenges as either an obstacle to our wellbeing or as an opportunity for improvement.

The situation we are now in with the coronavirus is such a moment. We see how fast government and business can move when faced with an existential threat. So, let’s use this moment as an opportunity to rethink the social and economic systems that determine how we live together.

Thanks to capitalism and the many sacrifices of those who have gone before, we now have a strong enough foundation to create a world worthy of our children and grandchildren. A world without poverty. A world where no one must worry about their safety or security. A world where everyone feels respected and has real opportunities to become the best possible version of themselves.

Now is the time to implement universal basic income, Medicare for All and free universal education. Free markets are essential for human flourishing, but they are neither fair nor predictable in their outcomes. Universal basic income, Medicare for All and free universal education are keys to a sustainable and morally decent free market, where prosperity benefits even the least advantaged members of society.

A UBI will not make people lazy but will empower them to pursue jobs and careers they’re passionate about, which can only lead to greater prosperity and human flourishing.

UBI and Medicare for All can replace the current welfare system that dehumanizes the poor and makes them dependents of the state, while saving money by focusing on preventative health measures.

Free universal education can replace the failed student loan program, which enslaves college graduates in debt and hinders their ability for home ownership, thereby acting as a break to economic growth. In the long run, these three programs can abolish poverty, stimulate economic growth, while saving money and shrinking the size of government. So, both progressives and conservatives can get behind them.

I’ve found a metaphor for how we should see our relationship together in society in chapter 72 of Herman Melville’s “Moby Dick.” Ishmael, the narrator of the story, tells how he and Queequeg were working together to slaughter a whale. Queequeg was standing on the slippery surface of the half-submerged whale, which was a very dangerous position. If he slipped in one direction he would fall in the gap between the whale and the ship and be crushed. If he slipped in the other direction, the sharks waiting there would kill him.

To protect him, Ishmael stood on the deck of the ship holding onto a harness that was attached to both their belts. It was called a monkey rope. If Queequeg began slipping in either direction, Ishmael would pull him back to safety.

The point is obvious. If Ishmael let Queequeg fall into the sea, then Ishmael himself would be pulled into the sea and both would die. Ishmael reflects on the fact that their fates were wedded together. What happened to one would also happen to the other.

We need to imagine our social and economic interactions along the lines of the monkey rope. We should realize that we are in fact interdependent, and all our fates are bound together. What happens to one will eventually happen to us. We are wedded together by a metaphorical monkey rope. We need to care for others as if we were caring for ourselves, or better yet, as if we were caring for those we love the most, our own children and grandchildren.

Let’s not lose this opportunity while the whole country is shut down. Why not reopen in a way that gives the economy a needed stimulus and people some needed hope. If anything, the past few weeks has shown that we can do anything as a country if we have the vision and will for it. This is the time for a universal basic income, Medicare for All and free universal education. We can do this.

Jeffrey S. Nielsen

Jeffrey S. Nielsen is a professor of philosophy and humanities at Utah Valley University.