Branko Milanovic

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Economist. Development and inequality expert.

Should we have a universal basic income?

Branko Milanovic disagrees and says:

Economically, states already guarantee a basic salary under certain conditions, for example in cases of unemployment or extreme poverty. With universal basic income, this assistance would no longer be temporary or linked to a certain condition, and I don’t think it would be sustainable. Moreover, I don’t like the idea of a world where work is no longer a form of self-realisation for citizens. I imagine a dystopian scenario in which 60% of people don’t work and 10% are entrepreneurs with very high incomes. From my point of view, it is better to have reasonable salaries for good jobs for many people than to have a very large percentage of the population depending on a guaranteed minimum wage and a very small percentage of the population with very high incomes. (source)