May 06, 2019
Surprise! Universal Basic Income is a Flop
Timothy Birdnow
In yet another example of Liberals having an epiphany that the rest of us had long, long ago, studies show that Universal Basic Income, that hip new liberal scheme of paying everyone on Earth money just for existing, doesn't work.
The UK Guardian has the story:
Well,Surprise! Surprise! Surprise! Who would ever have guessed that a no-age social security benefit for everyone wouldn't work!
How many times can these people reinvent the wheel after experimenting with square wheels, octogonal wheels, flat wheels, etc.?
Giving people money simply raises the cost of everything, making the minimum worthless. And, of course, it does nothing to reduce the amount of inequity there is between the haves and have-nots. In the meantime it discourages work for the poor, and also kills jobs at the bottom rung. It's an idea that is stupid beyond words.
In yet another example of Liberals having an epiphany that the rest of us had long, long ago, studies show that Universal Basic Income, that hip new liberal scheme of paying everyone on Earth money just for existing, doesn't work.
The UK Guardian has the story:
A study published this week sheds doubt on ambitious claims made for universal basic income (UBI), the scheme that would give everyone regular, unconditional cash payments that are enough to live on. Its advocates claim it would help to reduce poverty, narrow inequalities and tackle the effects of automation on jobs and income. Research conducted for Public Services International, a global trade union federation, reviewed for the first time 16 practical projects that have tested different ways of distributing regular cash payments to individuals across a range of poor, middle-income and rich countries, as well as copious literature on the topic.
The cities trying out universal basic income
It could find no evidence to suggest that such a scheme could be sustained for all individuals in any country in the short, medium or longer term – or that this approach could achieve lasting improvements in wellbeing or equality. The research confirms the importance of generous, non-stigmatising income support, but everything turns on how much money is paid, under what conditions and with what consequences for the welfare system as a whole.!
The cities trying out universal basic income
It could find no evidence to suggest that such a scheme could be sustained for all individuals in any country in the short, medium or longer term – or that this approach could achieve lasting improvements in wellbeing or equality. The research confirms the importance of generous, non-stigmatising income support, but everything turns on how much money is paid, under what conditions and with what consequences for the welfare system as a whole.!
Well,Surprise! Surprise! Surprise! Who would ever have guessed that a no-age social security benefit for everyone wouldn't work!
How many times can these people reinvent the wheel after experimenting with square wheels, octogonal wheels, flat wheels, etc.?
Giving people money simply raises the cost of everything, making the minimum worthless. And, of course, it does nothing to reduce the amount of inequity there is between the haves and have-nots. In the meantime it discourages work for the poor, and also kills jobs at the bottom rung. It's an idea that is stupid beyond words.
Posted by: Timothy Birdnow at
09:37 AM
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