May 18, 2018
There is a remarkable lack of enthusiasm for free money.
A recent poll asked people in the work force to rank their preferences: a higher minimum wage; legally enforced profit-sharing by employers; direct government subsidies to wages; and a universal basic income (UBI). Most of them put UBI in last place.
That’s not really surprising. People who cannot imagine a different economic environment are naturally reluctant to break the link between work and compensation. But if we are moving toward a future where work is not available for half the population, preferences may change.