By Tyler Durden
Authored by Ray Dalio via LinkedIn.com,
Universal Basic Income is one of several ideas floating around for dealing with the income/opportunity gap. Since you seem to be interested, I’m passing to you a briefing paper that my research team prepared for me and that I tweaked based on my Q&A with them. I won’t give you my conclusions because I don’t want to bias you. I’d rather you form your own opinion after you are informed.
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UBI Research Paper
What is Universal Basic Income (UBI)? In general, UBI is a type of cash transfer that is:
Universal: every citizen receives the transfer regardless of employment status or income.
Unconditional: recipients have no restrictions on how they can spend the cash.
Basic: the amount will cover “basic needs” and will constitute a “living wage.”
Long-Term: the cash transfers will last for the long term, e.g. entirety of the receipt’s life.
UBI isn’t an especially new idea; even Thomas Paine was an advocate. The idea gained traction and elicited debate in late 1960s (especially during the Nixon administration), but never really gained a foothold.
Where is UBI Receiving Policy Interest? Cities in Canada, Finland, the Netherlands, and the US have announced pilot schemes …read more
Source:: Zero Hedge