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A Robot Tax Is a Bad Idea

A Robot Tax Is a Bad Idea

The ideas of Benoit Hamon, the surprise front-runner in the presidential primaries of the Socialist Party, are far to the left of U.S. Senator Bernie Sanders and even the U.K. Labour Party’s Jeremy Corbyn. This, of course, is the era of the expanding Overton Window , with radical ideas bursting into the mainstream. One Hamon proposal in particular, however, should never make it: A tax on robots, based on the premise that their proliferation is bad for human employment.

Hamon’s most discussed proposal is a 750 euro ($805) monthly universal basic income for the French. It doesn’t make much sense, […]

Basic Financial Statement Template

Basic Financial Statement Template

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Universal basic income: To go beyond political gimmickry, here’s what govt should do

Universal basic income: To go beyond political gimmickry, here's what govt should do

New Delhi – As the country’s economy recovers from the scars of demonetisation, the government has sought to float another trial balloon called universal basic income (UBI). The idea of a dole, to replace all other doles, on the face of it looks sound. But just like demonetisation, there is no equivalent large, sophisticated economy catering to a big population, which has tried it so far. And therein lies the need to tread with caution, and we are not even talking politically.

Should every Indian citizen, whether a wealthy industrialist or a street dweller, get a small amount each month […]

Half of work activities could be automated by 2055

Half of work activities could be automated by 2055

Fears that accelerating automation is going to eat its lion’s share of jobs continue to plague corporate sectors. However, new research from McKinsey Global Institute may talk folks afflicted with automation phobias down from the ledge.

The research group says that although half of today’s work activities could be automated, it may not happen until 2055. Or 2035. Or even 2075. Where the statistic falls along the S curve depends on various factors, such as breakthroughs in artificial intelligence and economic conditions, says Michael Chui, a McKinsey Global Institute partner and an author of the report . Chuiand other researchers […]

Ex-French PM Valls and his social rival to face off in final round of presidential primaries

Ex-French PM Valls and his social rival to face off in final round of presidential primaries

Former French minister Benoit Hamon and Former French Prime Minister and candidate Manuel Valls © Jacky Naegelen / Charles Platiau / Reuters Former Education Minister Benoit Hamon has won the first round of the French Socialist Party primary. He will now battle former PM Manuel Valls in a second round to decide the Socialist candidate for the presidential poll in spring.

Hamon gained over 420,000 votes in Sunday’s ballot and secured 36 percent of the vote. Valls who served as Francois Hollande’s prime minister from 2014 to 2016 and interior minister from 2012 to 2014, garnered just over 360,000 votes.

Hamon […]

French Socialist primaries down to final two candidates in a “battle for the left”

French Socialist primaries down to final two candidates in a

Benoît Hamon, left and former prime minister Manuel Valls, right. Manuel Valls’ headquarters at the Maison de l’Amérique Latine in central Paris erupts into cheers as he walks into the room, with the crowd chanting "we will win". The results of the first round of the primary organised by France’s ruling Socialist Party have just been announced, and the former prime minister will advance to the second and final round next Sunday.

However, Valls did not come in first place, but second, with 5% less votes than his rival Benoît Hamon.

It’s a mitigated victory for the former prime minister, who […]

Left-winger dubbed ‘France’s Jeremy Corbyn’ on course to become ruling Socialist party’s presidential candidate after taking an early lead in primary elections

Left-winger dubbed 'France's Jeremy Corbyn' on course to become ruling Socialist party's presidential candidate after taking an early lead in primary elections

A radical left-winger dubbed ‘France’s Jeremy Corbyn’ is on course to become the Socialist Party’s candidate in presidential elections this spring.

Benoit Hamon, a 49-year-old former education minister, has caused a stir with his policies including giving a guaranteed income of around £550 a month to every citizen.

Costed at an estimated £346 billions a year, the plan would be phased in over three years and funded through higher wealth taxes.But despite his hard-Left view of the world, Mr Hamon was by 9pm this evening leading in the first round of the Socialist Party primary by 35.2 per cent, compared to […]

Benoit Hamon – the ‘French Bernie Sanders’ – goes from underdog to Socialist favourite

Benoit Hamon - the 'French Bernie Sanders' - goes from underdog to Socialist favourite

Photo: AFP Benoit Hamon, who was a surprise winner of the first round of the French Socialists’ presidential primary on Sunday, was the furthest to the left of the top three contenders.

Hamon, 49, whose signature proposal is the introduction of a universal basic income, shot up in voter surveys during a rushed campaign that saw three debates in little over a week in January.

His key proposal, which would see unemployed and low-income workers receive a monthly payment of between 600 and 750 euros ($795) a month, would entail a costly and radical reform of state spending — some 300 […]

UBI – That Radical Right-Wing Idea?

UBI – That Radical Right-Wing Idea?

Last week’s post — on a poverty eradication experiment in Africa of giving no-strings-attached cash — was a bit of a Trojan horse for this week: UBI is the idea of granting all adults a small amount of income, for life.

UBI is having a moment right now. Finland launched an experiment in 2017 to address joblessness with basic income, and the Netherlands is also attempting small-scale trials . Swiss voters rejected it in a referendum in 2016, but Swiss UBI supporters rejoice that it at least came up for a vote. A Silicon Valley startup Y-Combinator plans to launch […]

Budget focus on rural eco, small biz

Budget focus on rural eco, small biz

New Delhi: Even as a prominent section within the government is opposed to universal basic income — an unconditional cash transfer to the poor— the view on the focus areas in budget is virtually unanimous: boost the rural economy and support the housing sector and small businesses.

Apart from being the areas worst-hit by demonetisation drive, these are also seen as sectors from which the government hopes to earn the maximum reward, especially in five states, (including Punjab and Uttar Pradesh) which are slated to vote after the Budget.

In addition, creating rural infrastructure has been a key theme and the […]