There’s Nothing Progressive About a Universal Basic Income

There's Nothing Progressive About a Universal Basic Income

‘Capitalists will sell us the rope with which we will hang them.’ This colourful quote, sometimes attributed to Lenin, could well apply to the many free-market ideologues and tech oligarchs in the US, who are now pushing for increased welfare payouts and even a universal basic income (UBI). Through the expansion of welfarism at the expense of work, these capitalists could well be hastening the decline of the very economic system they profess to support.

Even devoted free-market advocates, like former senator Phil Gramm and economist John Early, now argue that increased welfare payouts, or ‘income transfer payments’, should be […]

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