Ludwig Hilberseimer, Bauhaus 3-2, 1929 Skeptics of guaranteed income tend to worry about the policy’s inflationary effects; absent rent regulation, for instance, one might expect housing costs to rise in proportion to the increase in disposable income generated by the policy. In a new working paper supported by JFI, “ Universal Basic Income and the City ,” Khalil Esmkhani, Jack Favilukis and Stijn Van Nieuwerburgh explore the effects of a UBI implemented at the city-level in New York City. The paper finds that, when financed through a progressive income tax, a UBI increases general welfare and—perhaps most notably—does not […]
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