The universal basic income is back in fashion, for several reasons. All of them are bad.
The idea of guaranteeing every citizen a minimum monthly level of cash first became popular in the 1960s in the United States. The goals then were to simplify the welfare system, encourage more people to take paid jobs and to be a bit more generous to the poor. It all came to nothing.
The newest argument for UBI is a little different. The promise of giving everyone regular monthly cash is supposed to be an easy way to help the millions of people whose jobs […]
Full Post at www.breakingviews.com