Melissa Kearney Criticizes Universal Basic Income (UBI)
Faculty Associate Melissa Kearney, along with Magne Mogstad, recently published an Op-Ed article on Business Insider explaining why the idea of a Universal Basic Income (UBI), raised by the Democratic presidential candidate Andrew Yang, is a bad idea despite its growing popularity.
Kearney named three most notable weaknesses of the UBI: 1) Inefficiency in resource distribution; 2) Extremely expensive; 3) Does not fix the automation problem. Therefore, Kearney and Mogstad concluded, "while elements of UBI may be appealing in the abstract, in practice it's an inefficient, extremely expensive, and potentially harmful policy that would solve none of those three challenges."
See the complete story at Business Insider
The story was also picked up by The New York Times