How to Fund a Universal Basic Income Without Increasing Taxes or Inflation

By Ellen Brown The policy of guaranteeing every citizen a universal basic income is gaining support around the world, as automation increasingly makes jobs obsolete. But can it be funded without raising taxes or triggering hyperinflation? In a panel I was on at the NexusEarth cryptocurrency conference in Aspen September 21-23rd, most participants said no. This is my rebuttal. In May 2017, a team of researchers at the University of Oxford published the results of a survey of the world’s best artificial intelligence experts, who predicted that there was a 50 percent chance of AI outperforming humans in all tasks within 45 years. All human jobs were expected to be automated in 120 years, with Asian respondents expecting these dates much sooner than North Americans. In theory, that means we could all retire and enjoy the promised age of universal leisure. But the immediate concern for most people is […] Read More

For Every One, A Basic Income? Yes! Radical Ideas About Fixing Inequality

Tony Atkinson’s new book points the way forward. British economist Tony Atkinson has been studying inequality — the gap in income and wealth between the top and the bottom — for nearly half a century. Now that the dogma of trickle-down has been exposed as myth, he sees economists, policy-makers and the public finally waking up to the seriousness of the problem. But how to fix it? In his new book, Inequality: What Can Be Done? Atkinson focuses on ambitious proposals that could shift the distribution of income in developed countries. This post was originally published on the blog of the Institute for New Economic Thinking. Lynn Parramore: When did you become interested in the topic of economic inequality? What sparked your work? Tony Atkinson: My interest in the topic actually led me to become an economics student. There was a famous book in England called The Poor and the Poorest, […] Read More