Universal basic income is hardly a new concept, but it has taken on a new life in recent years. Voices on both the left and the right now argue that a UBI could be the key to addressing major social and structural problems, including technological unemployment and underemployment, extreme poverty, welfare traps, and hidden disincentives to work. By freeing people from the shackles of low-quality jobs and endless bureaucracy, the logic goes, a UBI would enable them to reach their full potential.
It is certainly an appealing argument, especially at a time of protracted wage stagnation, persistent poverty, rising inequality, […]
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