Saturday, May 21, 2016

Nobel Prize winner gets behind basic universal income

"His thinking: Government intervention on the scale of regular monthly checks, handed to people regardless of working status for the purpose of meeting their basic needs, may be the smartest solution.
In the past, Deaton has firmly supported the idea that wealth inequality will only continue to increase unless some larger safety net acts as an insurance agent to bind people together. He won the 2015 Nobel Prize for his analysis of consumption, poverty, and welfare. His research has focused on the ways people's individual choices intersect with larger, macro-economic outcomes."

Only experiments on this idea will happen in my lifetime, but I hope it takes hold in the future.