The idea of providing a universal basic income has lately been capturing imaginations across the political spectrum. But, so far, the conversation has focused largely on the advanced countries, even though such programs may actually be more feasible – and more desirable – in the developing world.
BERKELEY – The old idea of recasting the welfare state by instituting an unconditional universal basic income has lately been capturing imaginations across the political spectrum. On the left, it is regarded as a simple and potentially comprehensive antidote to poverty. On the right, it is viewed as a means to demolish complex welfare bureaucracies while recognizing the need for some social transfer obligations in a way that doesn’t weaken incentives significantly. It also provides some assurance for the dreaded future when robots may replace workers in many sectors. But could it actually work?
BERKELEY – The old idea of recasting the welfare state by instituting an unconditional universal basic income has lately been capturing imaginations across the political spectrum. On the left, it is regarded as a simple and potentially comprehensive antidote to poverty. On the right, it is viewed as a means to demolish complex welfare bureaucracies while recognizing the need for some social transfer obligations in a way that doesn’t weaken incentives significantly. It also provides some assurance for the dreaded future when robots may replace workers in many sectors. But could it actually work?