Can UBI Survive Financialization?
OPINION: Universal basic income is hardly a new concept, but it has taken on a new life in recent years. Voices on both the left and the right now argue that a UBI could be the key to addressing major social and structural problems, including technological unemployment and underemployment, extreme poverty, welfare traps, and hidden disincentives to work. Making income transfers truly “duty free,” as the Belgian philosopher and UBI proponent Philippe Van Parijs has stressed, would be a major victory. However, this may come about less in the name of justice and equity, and more because it serves a new regime of accumulation that can guarantee that everyone has a regular no-strings-attached monetary income. In turn, all citizens will be granted permanent access to... Read More