UBI Universal Basic Income. What is your take?

Hi guys, lately I am noticing that the political debate, especially in the US, is shifting towards the UBI.
So…I was expecting for it to be a byproduct of the automation process, but pandemics seems to hit the social humus in a faster and wider way.

Both US parties are exploring the possibility as for instance Mitt Romney (Rep.) and Bernie Sanders (Dem.)

This was actually one of the first thing I envisioned right after the COVID contamination grew in my Country (ITALIA). I actually said to myself:“Is this maybe the right time to talk about the UBI…?”

What is your opinion?
Are you PRO about a means-tested UBI, an UNCONDITIONAL BASIC INCOME (no means-tested) or CON any kind of it?
Is it the right time to introduce this measure?
How the society could benefit from this or NOT benefit from this?
What could be the failure points of that kind of economic policy?

An Italian guy gave a TED talk about the subject in an few years ago:

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@Tradelta I think is a good option, for the countries that can afford it and make it work though. Countries that have appropriate working cultures, politics, long-term tax revenue, demographic dynamics, etc. If they tried to implement something like it in my country (Mexico), with the past government administration or the current one, it would be a disaster :rofl:. Although it’s true that coronavirus has forced a sort of reckoning with this, and will definitely have to be implemented in some places because of the magnitude of disruption. Pay now and sort it out later.
This policy is obviously left-leaning and more of the solidarity type of government action, and now it’s precisely the type of politics that is necessary. If not now, when? hahaha. I think the crisis was mishandled very badly for over a month (by humans, in general… I won’t say it was the fault of one or two countries :joy:), and now for governments and societies, this has become a kind of war-like scenario. Intrepid politics are needed, and something like UBI is basically economic oxygen at the moment.
Possibly in the US the taboo is broken, the policy is successful and becomes more widespread?

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On paper, UBI does seem the panacea of economic inequality.
Although I do think general living costs will rise as a result of everyone receiving free money, just as the speaker in the YouTube clip mentioned about rent increases.
This would probably just dilute the initial benefit of the policy, your cost of living has increased alongside your increase of income more or less giving a net neutral benefit to the recipients. Worse, it would increase the capital to the very people your trying to improve inequality with, as they are the ones renting properties, selling commodities, selling services etc.

Without more Government involvement setting price caps for essential services, which in its self would cause price increases elsewhere, I couldn’t see it working.
I’m a big advocate of Social Government, done right, and I’ve always supported the idea of UBI, but I’m sceptical it could ever work as intended. That saying, if even after the increase in living expenses, if that money truly did lift the worse off in society onto improved living standards then although it defeats the point generally, it’s still helped a section of society.
But then you could argue just give the worse off a leg up instead of UBI, so doesn’t help the argument.
It the cases of Government bail outs to Corps. I think dropping the money directly to the people instead of the banks etc to “trickle down” to the people would definitely improve liquidity in the economy, but that’s another topic.

Great topic @Tradelta, interesting policy for a new :earth_africa:

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