I’ve avoided discussing unintended consequences from one of the big policy debates of today — Universal Basic Income. Until now. This is a big topic so I preemptively titled this post as part one.
Universal Basic Income (UBI) is a general term that describes mostly government programs that distribute a periodic sum of money to citizens without otherwise considering their income. UBI has been proposed as everything from a tool to reduce poverty to a way to guard against the social impact of job loss caused by automation.
Each group outlines ways UBI could work a little differently. But many questions remain, including how will a particular country’s overall social system change? What are the second-order effects? Could UBI work in one place and not another? Could UBI work at one time and not another? Let’s first look at some UBI experiments and their initial pros and cons.