The Adverse Economic Consequences of “Basic Income” July 7, 2021 by Dan Mitchell

When I first looked at the issue of “basic income,” back in 2013, my gut reaction was deep skepticism. That’s because I feared many people would drop out of the labor force if they could live off government handouts (as illustrated by this Wizard-of-Id parody). It’s true that the current amalgamation of welfare programs also discourages work and creates dependency, but a government-provided basic income could make a bad situation worse.

Especially if politicians didn’t get rid of other redistribution programs (a very realistic concern).

That being said, what’s the evidence, either pro or con?

There was an experiment in Finland, which poured cold water on the concept.

Source: The Adverse Economic Consequences of “Basic Income” | International Liberty