- Jan 28, 2013
- Reaction score
- Williamsburg, Virginia
- Political Leaning
I have thought for some time that it might be wise to eliminate all our current entitlements (social security, welfare, etc.) and replace them with a simple guaranteed income floor across the board. Here's an interesting experiment aimed at finding out what happens when you do that.
We're about to find out what happens when you give poor people basic income for life
Over the past decade, interest has grown in an ostensibly unorthodox approach for helping people who don’t have much money: just give them more of it, no strings attached. In the old days of policymaking by aphorism-give a man a fish, feed him for a day!-simply handing money to the poor was considered an obviously bad idea. How naïve-you can’t just give people money. They’ll stop trying! They’ll just get drunk! The underlying assumption was that the poor weren’t good at making decisions for themselves: Experts had to make the decisions for them. As it turns out, that assumption was wrong. Across many contexts and continents, experimental tests show that the poor don’t stop trying when they are given money, and they don’t get drunk. Instead, they make productive use of the funds, feeding their families, sending their children to school, and investing in businesses and their own futures. . . . .