Globally, an economic debate is underway as heads of major economic institutions are perplexed at the broken link between wages and inflation. The world economy is growing but wages are stuck and labor productivity is lagging. One answer being offered these days is Universal Basic Income (UBI), a concept first proposed by Thomas Paine in the 1700s and currently experiencing a renaissance.
What should we think of UBI: Is it a total farce or does it possess genuine economic merit?
The first thing to point out is that the debate over UBI is a theoretical one. Despite being around for centuries, […]
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