In the words of Warwick university economist Andrew Oswald: “There is overwhelming statistical evidence that involuntary unemployment produces extreme unhappiness.” What’s more, adds Prof Oswald, most of this unhappiness seems to be because of a loss of prestige, identity or self-worth. Money is only a small part of it. This suggests that the advocates of a jobs guarantee may be on to something. I’m always confused by people who insist that UBI would result in mass involuntary unemployment (or even mass unemployment at all, tbh), thereby producing a miserable populace that is not longer required to submit to the […]
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