Ok yes we need a new system but at this point you went off the rails.

"At the base of such a new system must be the Universal Basic Income. An income payable to all adults as of right and sufficient to sustain a comfortable though not luxurious lifestyle."

First off UBI is and never will be a right but instead a privilege of living in a developed society.

Second, UBI can't be higher than can be supported by the underlying/overlying society. It must be stable and sustainable or is will crash. That means it might not sustain a comfortable lifestyle but maybe a barely tolerable one.

Hell, we don't even know if we can sustain any sort of comfort for anyone with the impacts of climate change.

UBI maybe the most expeditious method of distributing the proceeds of a society but maybe not. Maybe instead of an income, cash or cash equivalents we just distribute rations, ration coupons, or electronic credits redeemable of housing, food, clothes, education, energy, transportation, healthcare. Maybe cash or cash equivalents will be declared useless for purchase of necessities and only rations can be used to prevent inflation. Prices fixed to the ration amounts.

TEK