The idea of universal basic income (UBI) is close to the peak of the hype cycle. Democrat Andrew Yang made it a key issue in the presidential campaign. A small group of supporters tirelessly pushed forward arguments in support of it. I will introduce two in this article. The first one: the proposition to permanently cancel the job position. The second type: the income demand generated thereby to make up for the decrease in purchasing power caused by the lack of work. Both rely on long-abandoned economic fallacies.
There is no doubt that robots, software, and automation eliminate some of […]
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