The idea that a Universal Basic Income fuels inflation makes no economic sense.
We live in an age of crisis. The Global Financial Crisis, austerity measures, climate change, Covid-19 and war have all reduced people’s standard of living, wellbeing and even predicted lifespan. It’s a dire outlook, made worse by a fast-evolving cost of living crisis.
One way to ease the burden on people would be a Universal Basic Income.
In our last age of crisis, during WWII, Western governments took the momentous decision to tackle even more serious crises through massive state intervention. Governments rapidly committed themselves to costs with few precedents in creating social security systems, healthcare systems, nationalised industry and a range of other equality-promoting measures.
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