What is the Point of Universal Basic Income? - David Perell

he coalition between left and right evaporates, the idea’s economic inevitability looks fanciful, and the promise that the plan could end poverty forever looks more dependent on technical details than you might think.In part that’s due to disagreement about what basic income is for. I think it’s a useful tool for eliminating or dramatically reducin... See more

On the face of it, this makes the numbers come close to acceptable. It also means that UBI schemes essentially take money out of the pot currently reserved for the needy and disabled, and distribute it to able-bodied people plus the needy and disabled. Such a scheme has the potential to have good effects: by eradicating welfare traps that keep peop... See more

To implement UBI at the expense of every other social program is to make the presumption that the people helped by those programs are competent and capable of shifting to a life of budgeting and managing their own money and of avoiding exploitation. Think of the most vulnerable people you’ve ever encountered and remember that, with UBI, they all ge... See more

Martinelli highlights “the danger that basic income ‘would aggravate the problem of low pay and subsidize inefficient employers,’ leading to a proliferation of ‘lousy’ jobs.” In this scenario, those with good jobs will continue to lead fulfilling lives, now supplemented by universal income, while others will have to combine their UBI with one or mo... See more

UBI should not be just about survival or consumer spending. Instead, it should be seen as a catalyst for driving technological change. A kind of long-form state support could shore up social cohesion and lead to better governance. That would have a halo effect.

People are more likely to participate in the technological transition positively if they... See more

UBI—or wider programmes for social support, cohesion, and economic access—should be seen as a tool for enabling the technological transition, not a response to it. It would reduce the fear of job displacement and encourage entrepreneurship and risk-taking. They could reduce social anxiety, creating the space to take advantage of this coming era of ... See more