Mar 12, 2020
Universal Basic Income Has Been Tried Before. It Didn’t Work
Posted by Brent Ellman in categories: economics, Elon Musk, government
Those calling for a government-funded universal basic income are acting as though it’s a hot new idea. It’s not. It’s been tried before—and it didn’t work.
In essence, universal basic income—also known as guaranteed minimum income—provides cash payments to all citizens, regardless of need.
Advocates range from tech billionaires Elon Musk and Mark Zuckerberg to libertarian scholar Charles Murray.