Is the World Ready for a Guaranteed Basic Income? (Update)

A lot of jobs in the modern economy don’t pay a living wage, and some of those jobs may be wiped out by new technologies. So what’s to be done? We revisit an episode from 2016 for a potential solution.

 

• SOURCES:
  • Erik Brynjolfsson, professor of economics at Stanford University.
  • Evelyn Forget, professor of economics and community health sciences at the University of Manitoba.
  • Sam Altman, C.E.O. of OpenAI.
  • Robert Gordon, professor emeritus of economics at Northwestern University.
  • Greger Larson, professor of archeology at the University of Oxford.

 

• RESOURCES:
  • "Here's what a Sam Altman-backed basic income experiment found," by Megan Cerullo (CBS News, 2024).
  • Utopia for Realists, by Rutger Bregman. The Correspondent (2016).
  • The Second Machine Age, by Erik Brynjolfsson and Andrew McAfee (2014).
  • "The Town With No Poverty: Using Health Administration Data To Revisit Outcomes of a Canadian Guaranteed Annual Income Field Experiment," by Evelyn Forget (Canadian Public Policy, 2011).
  • "The Negative Income Tax and the Evolution of U.S. Welfare Policy," by Robert Moffitt (Journal of Economic Perspectives, 2003).
  • Capitalism and Freedom, by Milton Freidman (2002).
  • "Lesson from the Income Maintenance Experiments," (Federal Reserve Bank of Boston and The Brookings Institution, 1986).
  • Law, Legislation and Liberty, Volume 3: The Political Order of A Free People, by Frederick Hayek (1981).
  • "Daniel Moynihan and President-elect Nixon: How charity didn't begin at home," by Peter Passell and Leonard Ross (New York Times, 1973).
  • "Income Maintenance Programs," (Hearings Before The Subcommittee On Fiscal Policy Of The Joint Economic Committee Congress Of The United States, 1968).

 

• EXTRAS:
  • "President Nixon Unveils the Family Assistance Program," (1969).
  • "Milton Friedman interview with William F Buckley Jr.," (1968).
  • "Martin Luther King Jr. advocates for Guaranteed Income at Stanford," (1967).

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