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It may sound crazy to pay people an income whether or not they are working or looking for work. But the idea of providing an unconditional basic income to every individual, rich or poor, active or inactive, has been advocated by such major thinkers as Thomas Paine, John Stuart Mill, and John Kenneth Galbraith. For a long time, it was hardly noticed and never taken seriously. Today, with the traditional welfare state creaking under pressure, it has become one of the most widely debated social policy proposals in the world. Philippe Van Parijs and Yannick Vanderborght present the most comprehensive defense of this radical idea so far, advocating it as our most realistic hope for addressing economic insecurity and social exclusion in the twenty-first century.
The authors seamlessly combine philosophy, politics, and economics as they compare the idea of a basic income with rival ideas past and present for guarding against poverty and unemployment. They trace its history, tackle the economic and ethical objections against an unconditional income―including its alleged tendency to sap incentives and foster free riding―and lay out how such an apparently implausible idea might be viable financially and achievable politically. Finally, they consider the relevance of the proposal in an increasingly globalized economy.
In an age of growing inequality and divided politics, when old answers to enduring social problems no longer inspire confidence, Basic Income presents fresh reasons to hope that we might yet achieve a free society and a sane economy.
- Sales Rank: #41345 in Books
- Published on: 2017-03-20
- Original language: English
- Number of items: 1
- Dimensions: 9.50" h x 1.50" w x 6.50" l,
- Binding: Hardcover
- 400 pages
Review
This is a major contribution to the effort to design a realistic program for achieving social justice in the twenty-first century. (Bruce Ackerman, Yale University)
The West is awash these days in populist movements that cloak repressive and inegalitarian agendas. In these troubled times, an unconditional basic income is a beacon: a workable proposal that furthers freedom and equality for all. In this book, two modern pioneers of the UBI make the moral and practical case for endowing everyone with the resources to shape a life of their own choosing. (Anne Alstott, Yale University)
The idea of a universal basic income has been around for quite a while, but has the time for it finally arrived? This superb, closely argued book makes the case for the affirmative answer. While the authors do not hide their sympathies, they approach their subject with a philosopher’s care for ethical justification, a historian’s focus on the antecedents, an economist’s concern for incentives, an empiricist’s respect for evidence, and a practitioner’s attention to feasibility. (Dani Rodrik, John F. Kennedy School of Government, Harvard University)
In this important introduction to the ‘basic income’ initiative―an economic proposal that may radically transform the nature of the modern economy and society―two leading social scientists examine the ethics and economics of the proposed move. This is essential reading for anyone interested in the problems of deprivation and unfreedom that survive even in the richest countries in the world. The remedial reasoning presented by Van Parijs and Vanderborght is powerful as well as highly engaging―a brilliant book. (Amartya Sen, Harvard University)
Van Parijs and Vanderborght…make a sturdy ethical and philosophical argument for the provision of universal basic income… This thorough, thoughtful study will undoubtedly become a much-cited landmark work on its subject. (Publishers Weekly 2017-01-30)
Van Parijs and Vanderborght go deep, focusing exclusively on a universal guaranteed income and examining a range of philosophical, practical and political arguments for and against it. In considered, often enlightening, prose, they delve into John Rawls, Ronald Dworkin and Amartya Sen. They look at a number of alternative schemes; they discuss various objections to guaranteed income programs, including those over cost, free riding, and the possibility of diminished incentives. (Akash Kapur Financial Times 2017-03-04)
About the Author
Philippe Van Parijs is Professor of Economic and Social Ethics, University of Louvain.
Yannick Vanderborght is Professor of Political Science, Universit� Saint-Louis, Brussels.
Most helpful customer reviews
0 of 0 people found the following review helpful.
Useful utopia!?
By Sven Bremberg
The authors thoroughly review the pros and cons of a basic income. It is an important contribution to an intelligent debate on a social innovation that can contribute to the sustainability of the European welfare states - and elsewhere.
6 of 7 people found the following review helpful.
Good but not radical enough
By Geoff Crocker
This is a comprehensive and therefore welcome exposition of many aspects of the basic income proposal, including its justifications, implications, history, philosophy, economics and politics. The philosophies and arguments of Rawls, Dworkin, Sen, Keynes and Marx are all rehearsed. This extensive coverage makes the book rather longwinded, occasionally rambling and repetitive, a stream of academic consciousness with frequent diversions.
There is no doubt of the appeal of basic income which van Parijs and Vanderborght present well. The problem lies in two main objections – supposed work disincentive, and macroeconomic cost. The authors’ response to the free-rider problem, that others already free-ride, or yet others work without remuneration, is hardly convincing, particularly since a forthcoming paper by Richard McGahey in Ocampo and Stiglitz ‘The Welfare State and Inequality’ (Columbia University Press) cites extensive evidence of the work dis-incentivisation of basic income.
Admitting that localised externally funded basic income experiments do not demonstrate basic income affordability, and dismissing a range of alternative mechanisms to fund BI, the authors scale back to proposing a ‘partial basic income’ funded by income tax which they define only vaguely and do not cost (pp 165-169), but then immediately claim that a basic income of 25% of GDP per capita is affordable (p170)!
Equally unjustified is their summary rejection of the case for basic income from Keynesian demand deficiency in high technology economies (p130), and its funding by money creation (p152). ‘Helicopter money’ they say, ‘can only be of limited duration’. They are limited by their adherence to financial orthodoxy which will never show basic income affordable. They incorrectly interpret the Keynesian demand argument to rely on economic growth, whereas the argument is growth neutral and applies to constant or even reduced GDP. In this casual dismissal, they reject a powerful objective argument for basic income and its funding.
In a thought experiment where a machine is plugged into the earth to produce all GDP output without any labour, and this GDP is distributed by vouchers issued and destroyed each year, then it follows that 100% of GDP becomes basic income, and 100% of GDP is deficit financed. The nuanced claim is that in high tech economies where output increasingly exceeds wage, then basic income is essential and financial deficit inevitable. Recent economic fact supports both these hypotheses. Though radical, this thesis is credible, has huge power as an argument for deficit funded basic income, and is one which the authors should examine further.
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