Thursday, September 29, 2016
Robert Reich on a universal basic income
As technology advances it will do more and more of the labor previously provided by people. So how do we equitably help those people who lose their jobs with no hope of those jobs every returning? The universal basic income (UBI) is one way to address the problem and it's been around for a while. President Nixon proposed it and it passed the House of Representatives. And experimental studies of UBI shows that it can be quite successful. And contrary to the false argument that it would reduce incentive to work, instead it motivates working at what one is passionate about, thereby producing a healthy, happen citizen who also contributes to the public good. Of course such happy people are a threat to the 1%'s greedy dominance, hence they don't much appreciate this idea. Though Milton Friedman, their God, did support it.