Senior Minister Tharman Shanmugaratnam has a blunt answer for supporters of the Universal Basic Income (UBI) policy.
The short answer — he thinks it’s a bad idea, for societies outside of Singapore.
The Coordinating Minister for Social Policies was speaking as part of a panel at the Bloomberg New Economy Forum on Nov. 16, which included industry titans like McDonald’s CEO Chris Kempczinski and Ginni Rometty, executive chairman of IBM.Other than the issue of UBI acting as a disincentive to work, which Tharman believes is still an "open issue", he believes that UBI is bad because it is regressive and would […]
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