Member preview

Basic Income: Short and Sweet Answers for Skeptics

Hi there Basic Income Skeptic!

First things first: Are you a trained, skilled economist?

Be honest now. Did you spend years seriously studying the subject, — perhaps at school, college, university and beyond — starting with the really basic stuff, such as opportunity cost, and working your way up gradually to being able to understand much more complicated macro-economic issues?

You didn’t? Well, don’t worry. That’s fine. You don’t have to be able to evaluate proposed economic policies all by yourself. There are some very friendly and helpful skilled economists around to do that for you. I just wanted to establish where we’re starting from.

Oh, wait! You’re not one of those ‘mystics’ off of Facebook, are you? The ones who reckon they’ve somehow acquired (perhaps through magic!) a near-perfect understanding of economics, despite having next to no education or training in the subject?

You’re not? Well, thank goodness for that, because those guys really are a few olives short of a pizza, if you ask me.

OK then. Down to business. Some questions and straightforward answers:

Will Basic Income have many real and substantial benefits?

Yes — absolutely loads of them.

Is Basic Income affordable?

Yes. For any of the world’s major, advanced economies, it is easily affordable.

Will Basic Income lead to millions of people suddenly quitting their jobs, perhaps causing a major economic collapse?

No. It should cover essentials, but people will still have to work for anything else they want to buy.

Will Basic Income cause massive inflation?

No. That’s just a silly Internet fairy tale.

What’s that?

You’re sure it’s unaffordable?

You’re sure it will lead to millions of dropouts?

You’re sure it will obviously lead to inflation?

You’re certain that Basic Income will inevitably led to economic collapse?


…because only a minute ago, you admitted you’re not a trained, skilled economist.

Are you sure you’re not being just a little bit prejudiced?

Many economists are very positive about Basic Income — and for good reason. It makes a whole lot of sense.

Not all trained, skilled economists are entirely positive about Basic Income, of course, but you won’t find many of them going around claiming it’s impossible to afford it or that it will obviously lead to hyperinflation or economic collapse.

They don’t generally make any such ridiculous claims, because, being skilled economists, they don’t have to base their opinions on Internet tittle-tattle.

Come to think of it, though, neither do you!