Universal basic income — the idea of giving everybody money — has been gaining momentum in policy circles lately. Finland just wrapped up a trial, and India might adopt a nationwide program. Proponents are hoping that the US, as it grapples with mounting inequality, will figure out how to offer a UBI here.
But a new National Bureau of Economic Research (NBER) working paper by Hilary Hoynes and Jesse Rothstein dumps some cold water on UBI enthusiasm. In their paper, the economists argue that a developed-world UBI is more distant than we realize, and that pilot programs aren’t going to […]
Full Post at theworldnews.net