In his latest column, The New Yorker’s Financial Page writer, James Surowiecki makes the Case for Free Money. Why, he asks, don’t we have universal basic income? It may be, he thinks, “an idea whose time has come.”
He notes that the work disincentive under a universal basic income is mild – in Canada’s Manitoba experiment in the 1970s working hours for men dropped only 1%. Other measures of well-being improved markedly. Teenagers stayed in school and hospitalization rates declined. So what’s not to like?