Universal basic income is winning support from some as a powerful tool to combat poverty , but Ray Dalio thinks it could be harmful and pull cash away from better social programs.
The general concept of UBI is to make recurring cash payments to people regardless of their wealth, with no restrictions on how they spend the money.
Dalio is the billionaire founder of Bridgewater Associates, the world’s largest hedge fund, and the official mentor to its three co-chief investors.He questioned the wisdom of handing $1,000 a month to everyone on an episode of the “Lex Fridman Podcast” in December 2019.“What […]
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