Lifeboat Foundation

Coronavirus’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you going to work, forcing your employer to make you redundant, or bankrupting your business.

The trillions of dollars wiped from financial markets this week will be just the beginning, if our governments do not step in. And if President Trump continues to stumble in his handling of the situation, it may well affect his chances of re-election. Joe Biden in particular has identified Covid-19 as a weakness for Trump, promising “steady, reassuring” leadership during America’s hour of need.

Continue reading “Coronavirus will bankrupt more people than it kills — and that’s the real global emergency” »

How would a massive federal spending program like a universal basic income (UBI) affect the macroeconomy? We use the Levy Institute macroeconometric model to estimate the impact of three versions of such an unconditional cash assistance program over an eight-year time horizon. Overall, we find that the economy can not only withstand large increases in federal spending, but could also grow thanks to the stimulative effects of cash transfers on the economy.

Democratic presidential candidate Rep. Tulsi Gabbard Tulsi GabbardLawmakers call for universal basic income amid coronavirus crisis Tulsi Gabbard calls for giving Americans K a month during coronavirus outbreak Biden consolidates majority support in new Hill/HarrisX 2020 poll MORE (D-Hawaii) called for introducing a universal basic income (UBI) of $1,000 a month until coronavirus “no longer presents a public health emergency.”

“Most Americans don’t have that safety emergency bank account even for a short term, what to speak of if you’re talking about weeks, or in this case people are looking at potentially months,” Gabbard said in an interview on Hill. TV.

Her proposal, H.R. 897, would give a UBI of $1,000 per month to all adult Americans “until COVID-19 no longer presents a public health emergency.”

The House is preparing to vote on Thursday on a coronavirus-relief bill that would provide Americans with paid sick leave, food assistance, free coronavirus testing, and more substantial unemployment benefits.

But Ocasio-Cortez pushed for a more sweeping response, including expanding Medicare or Medicaid to cover all Americans, a freeze on evictions, a universal basic income, ending work requirements for food-assistance programs, criminal-justice reform, and freezing student-debt collection.

“This is not the time for half measures,” she tweeted on Thursday. “We need to take dramatic action now to stave off the worst public health & economic affects. That includes making moves on paid leave, debt relief, waiving work req’s, guaranteeing healthcare, UBI, detention relief (pretrial, elderly, imm).”

First wave 🌊.

Your questions answered — an update (11−03−2020): Professor Neil Ferguson on the current status of the COVID-19 Coronavirus outbreak, case numbers, intervention measures and challenges countries are currently facing.

Continue reading “Update on COVID-19 outbreak with Professor Neil Ferguson” »

Andrew Yang says a Universal Basic Income program would greatly help individuals and their communities during the coronavirus outbreak.

“In the case of the Industrial Revolution, people’s lives didn’t improve for seven decades,” Frey says. “That’s two generations. I think we need to be very concerned about some of these short-term effects on people.”

Frey says for seven decades wages were stagnant, food consumption decreased and “people’s living standards deteriorated.” The economy was doing quite well, but most of the workers weren’t seeing the benefits of that economy.

“Because people’s living standards deteriorated, people rioted against mechanized factories. The Luddites are often portrayed as these irrational enemies of progress, and to some extent, that’s right if you take a very long term view,””

Continue reading “If this era of automation mirrors the past, we’re in trouble” »

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.

Universal Basic Income usually creates a confusion and heated debates when people get divided between doomsday and Utopian scenarios. With faster than expected development of AI, we might be faced with no choice. In such case, what will UBI mean for most of us and how will it be implemented?