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A very similar idea to basic income has been tried and failed miserably because it ends up as employer subsidies. If you are willing to work for X money a year
by nksjndfdf 10y ago
A very similar idea to basic income has been tried and failed miserably because it ends up as employer subsidies.
If you are willing to work for X money a year, and you get a basic income of Y money a year, then you will be willing to work for X - Y money per year if other conditions don't change. This is will end up as tax-payers subsidizing corporations in the long run.
https://en.wikipedia.org/wiki/Speenhamland_system https://en.wikipedia.org/wiki/Speenhamland_system
- idanoeman 10y agoBasic income reduces the supply of labor because it reduces the employee's need for income. Basic income increases the velocity of money, increasing the demand for labor. In a competitive market this should cause labor prices to rise.