Friday September 18, 2020

Comment: Introducing a universal basic income makes economic sense

Giving everyone a baseline payment does not disincentivise work, and it’s the best way to deal with a technological future

13th September, 2020
One of the reasons for guaranteeing a basic income for all is related to securing consumers for small businesses. Picture: Fergal Phillips.

The extent of the government’s involvement in providing income support to those most affected by the Covid-19 crisis is unprecedented. These interventions provide a political opportunity to overhaul the social welfare system, institute a universal basic income, and prepare for a future of job-altering technological transformations.

A working paper recently published by the Department of Social Protection and Employment Affairs, and the Central Bank of Ireland, opens with a stark statistic. At the...

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