By Akhil Patel
It has become popular to suggest a Universal Basic Income (UBI) as a solution to growing inequity. But in its current form UBI will be a total failure. Not because the idea is a bad one, but because it ignores the law of economic rent.
The idea of a UBI has a much longer provenance and is in fact the perfect counterpart to the land value tax. Actually, “counterpart” is the wrong word. It is an inevitable consequence.Henry George made this very point at the end of the 19th century when he was asked the following question about […]
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