After Universal Basic Income, The Flood
23rd October 2017
Imagine falling asleep in the 1990’s and waking up today. You nodded off watching the news explain looming pension crises, a need to raise the retirement age, and some really old guy talk about “cost disease.” You wake up in 2017 and all of that happened, we really are out of money, Baumol is dead, and many “millenials” aren’t sure what the definition of a “pension” is, exactly. Then you read about UBI. Many an article explain proposed positives, but none explain quite how we’ve made the leap from “we can’t pay for people’s retirement anymore” to “let’s give everyone money and see what happens.”