Category: Basic Income

The universal basic income has become a subject of increasing fascination across the entire ideological spectrum in recent years. Capable of much more than just a simple “employment fix”, basic income could help to create no less than a shared political vision for a future society.

There are a number of experiments in basic income about to be implemented this year around the world. The experiments offer basic income as a solution to automation, lack of disposable income, benefit traps or a bloated bureaucracy. In other words, the goal is to “fix” various parts of the existing relationships between the […]

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Tesla CEO Elon Musk has doubled down on his support of a universal basic income as a possible solution for unemployment caused by the rise of machines equipped with artificial intelligence taking over the workforce.

A universal basic income would give a standard amount of money to every citizen to cover basic expenses like food and living costs each month.

At the World Government Summit in Dubai on Monday, Musk told a crowd that universal basic income is ‘going to be necessary’ in the future.Tesla CEO Elon Musk told a crowd at the World Government Summit in Dubai on Monday (pictured) […]

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Bryan Caplan is Professor of Economics at George Mason University and Senior Scholar at the Mercatus Center. He is the author of The Myth of the Rational Voter: Why Democracies Choose Bad Policies, named "the best political book of the year" by the New York Times, and Selfish Reasons to Have More Kids: Why Being a Great Parent Is Less Work and More Fun Than You Think. He has published in the New York Times, the Washington Post, the Wall Street Journal, the American Economic Review, the Economic Journal, the Journal of Law and Economics, and Intelligence, and has […]

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Ebay founder Pierre Omidyar became an instant multi-billionaire when eBay went public in September 1998. Almost as soon as he became a billionaire, he decided to give it all away. Omidyar and his wife Pamela founded the Omidyar Network based on the belief that every person has the potential to make a difference. The Omidyars have a different philosophy when it comes to the Network’s giving. They don’t invest in short-term goals, rather they seek to rebuild the lost sense of community that is needed to fix goals like feeding the hungry, teaching the illiterate, and sheltering battered women.

The […]

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An Official Endorsement

With Finland implementing a universal basic income (UBI) experiment that will run for the next two years, it seems that UBI is getting more attention as a viable system. Now, a leading advocate of UBI has said that the government of the world’s largest democratic country, India, is going to release a report endorsing UBI as “basically the way forward.”

The report, which will be part of the Ministry of Finance’s annual Economic Survey, is expected to be released this month. India has had considerable experience with UBI pilot programs in the country. Behind these programs is […]

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Labor force participation rates, which are the percentage of people in a given country who have any job at all, have been declining since around 2001. So have median incomes. Mean incomes, on the other hand, have increased. This means that while the average person is less likely to work, and likely to earn less money if they do, the total amount of money being earned per person has increased because of gains in income at the top.

This is no conspiracy of the powerful and wealthy keeping the little man down. This is the obvious result of our post […]

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There are some datapoints that I’ve been picking up on recently that undermine this.

Artificial Intelligence based programs are replacing human traders at hedge funds. Where they’ve been implemented, they’ve been more successful than the human traders. Now this doesn’t affect a lot of people. However these are some of most highly paid individuals on the planet, with very specialized, highly intellectual skills. If computers can replace them, not job is safe.

I also heard something about AI programs now being able to write other AI programs. Think about the effect of that. Waaaaayyyyyyyy on the […]

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As the income gap continues to widen and poverty is on the rise in Australia and other industrialised nations as result of decades of neo-liberal economic policies, the concept of a universal basic income is being touted in conservative quarters and amongst some left economists. Trials are underway for some form of basic income for unemployed in Canada, Finland, the US and several other European countries. The concept dates back to the Renaissance of the 16th century where with the new mercantilism it was no longer seen as the preserve of the church and charitable individuals to cater for […]

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