Friday, 31 October 2014

Another Angry Voice: What is universal basic income?

Arguments in favour

• Technology and automation
• Wealth Redistribution
• Efficiency
• Smaller government
• Reduced crime
• Balanced Labour Market
• Innovation and small businesses
• Better capitalism
• Social justice

Arguments against

• Loss of work incentive
• Idleness
• Something for nothing
• Reciprosity
• Welfare for the rich
• Inflation


I've outlined some of the arguments for and against Universal Basic Income. The problem is that most of the arguments in favour are backed by empirical evidence and sound economic reasoning, but most of the commonly raised arguments against don't make any sense at all from an economic perspective, are contradicted by the evidence, and amount to little more than opinion. This means that it is absolutely impossible to construct a "balanced" article without giving the completely false impression that the arguments against are somehow equal to the arguments in favour, when aside from the valid concerns over inflation, they are transparently not.

Source 1
Source 2

Why Universal Basic Income is a Better Alternative to the Welfare State

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