Free money for everyone!
With weak job growth, rising poverty, and the rich continuing to devour nearly all economic growth, it’s an idea that is gaining more credence. Arguments for a universal basic income (UBI) — in which everyone without exception would receive an equal stipend — have flourished in policy-centric areas of the internet, including The Week. Advocates of UBI see it as a blunter, more effective means of reducing poverty and shrinking the inequality gap.
But even if UBI proponents are right on the merits, Tyler Cowen argues that the politics of the issue are not favorable.