Mar 12, 2020

Universal Basic Income Has Been Tried Before. It Didn’t Work

Posted by 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.

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