The idea of universal basic income (UBI) is gaining ground globally among liberals and conservatives, free-marketers and socialists. It is supposed to be the panacea for many societal ills. It is expected to rescue us not just from the failures and inequities of the market economy, but also from the inefficiencies and lethargies of the welfare state. It is expected to insulate us from the vagaries of technological change and protect us from robots, chat bots and globalisation.
UBI is projected to eradicate poverty, reduce inequality, simplify delivery of welfare benefits and, therefore, reduce related inefficiencies, eliminate leakages resulting from […]
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