The Case Against a Basic Income

Even if we could resolve payment's friction issues, however, we would still be stuck with the basic problem that some people have much more disposable income than others. Universal basic income would help, and I'm strongly in favor of it, but I don't think that's likely to be politically feasible anytime soon.

The inability to rise, or even to maintain middle-class status, has sparked calls for a universal basic income, a policy embraced by many in the clerisy and throughout the oligarchy. A universal basic income would stand as what Karl Marx called “the proletarian alms bag,” keeping the masses from destitution without assisting them to move up, start ... See more

Finally, it’s worth considering that the biggest potential for basic income isn’t in the US but in developing countries. India has the infrastructure for a basic income: For years now, it has been building out the world's largest biometric database as a way to securely issue benefits. Tracking income is more difficult, which would render a negative... See more