Shades of Basic Income

Abstract

The basic income concept, at a high level of generality, has generated increasing interest among scholars, policymakers, and members of the public around the world and across the political spectrum. In practice, however, the basic income label encompasses a variety of different proposals, with different underlying policy motivations, design features, and anticipated effects. The varied motivations reflect different political ideologies and policy priorities, as well as different expectations for the future of the economy and labor market demand. While many agree that basic income could be a useful solution, there is no consensus as to the problems basic income solves. In order to systematize the policy analysis of basic income, this Essay describes the different motivations underlying different proposals. We begin this inquiry with the starkly different possibilities for the future of labor presented at this conference.

Keywords: Basic Income, Universal Basic Income

JEL Classification: K34