Why a Basic Income Guarantee makes economic sense

Why a Basic Income Guarantee makes economic sense

A giant poster in Switzerland poses the question of how people would spent time if they didn’t have to work for a wage. Photo: Flickr/Enno Schmidt Opinion by MERRILL WITT

In a March research note to clients Macquarie Bank posed the following question: ‘Will COVID-19 redefine societies and economic models and inflict a prolonged and massive damage; or will it simply nudge us towards different policies (e.g. basic income guarantees & MMT) but still leave the essence of our societies intact, and the impact while deep, will not cause an economic reset?’

The fact that arguably Australia’s most influential investment bank […]

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