In light of the current worldwide crisis and record levels of unemployment, many people are again talking about universal basic income or UBI. According to WIRED UK, a universal basic income would give people a greater sense of freedom and allow them to engage in activities that are of greater value to the community. However, this is easily disproved when you consider that one’s willingness to pay for an activity voluntarily is what determines how much value that activity has.
Hashtags: #UniversalBasicIncome #UBI #Economics
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References
Sowell, T. (2014). Basic Economics. New York: Basic Books.
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