News for hackers. Stuff that matters.

A comment on Universal basic income: A nonprofit is about to test it in a big way. Parent comment

Re:Universal basic income: A nonprofit is about to test it i... by nksjndfdf on Friday April 15, 2016 @03:54PM (#11507152)
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

[ Parent | on HN ]
Re:Universal basic income: A nonprofit is about to test it i... by idanoeman on Friday April 15, 2016 @07:31PM (#11508405)
Basic 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.
[ Parent | on HN ]