Randall Wray

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Professor of Economics at U. Missouri–Kansas City, Senior Scholar at Levy Economics Institute

Should we have a universal basic income?

Randall Wray disagrees and says:

I do not support sending a BIG check to everyone. It is a devaluation of the currency, as prices rise so that the BIG payment essentially becomes the entry price to the marketplace. So we will need to target the BIG to those who do not (or cannot) work. Yes there’s some stigma. But, first we implement Employer of Last Resort so that anyone who is ready and willing to work has a job in the Job Guarantee/Employer of Last Resort. Then we provide BIG (or whatever you obwant to call it) to those who cannot, should not, or will not work. (source)