U.S. companies have been bringing manufacturing home, and with this has come almost a quarter of a million jobs since 2010. And more are on their way — Deloitte reports that about half of U.S. manufacturing executives plan to bring home some portion of their operations by 2020. But there’s a hard truth beneath this positive trend: While domestic manufacturing is near all-time highs, America is not fully prepared to fill the jobs of the future.
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?