[Global Insight] How everyone should get basic income amid COVID-19 and automation: Fmr. World Bank Chief Economist Kaushik Basu
- 4 years ago
코로나19 사태로 재조명된 '보편적 기본소득'
We begin with a discussion on an issue making headlines.
As the COVID-19 pandemic continues to paralyze economies and cause millions of job losses around the world, more and more governments are preparing income support for their citizens.
But this has given momentum to the debate over having a universal basic income to guarantee citizens a minimum level of income support,... in the era of automation and artificial intelligence.
To delve into this issue, we have joining us today Dr. Kaushik Basu, a professor of Economics at Cornell University and former Chief Economist at the World Bank.
A growing number of countries are now moving to make emergency one-off payments for their citizens, whether it is universal or targeted to a certain level of income.
Of course, some say there's no such thing as a free lunch and that other measures such as unemployment benefits, food-stamps, and mandated sick leave would work just as well. What is your view on this?
The eligibility and the size of the payments differ from country to country but they are mostly one-time payments. Will a one-time relief be enough? How do you think the direct payments should be designed and distributed?
Would this leave us with a fiscal deficit though?
Millions, if not tens of millions of people around the world will lose their jobs throughout this pandemic. In recent years, concerns over automation have led to a wider debate over universal basic income. Do you think it is something we should consider in the long run beyond the pandemic?
Typical arguments against UBI are that it's costly and it reduces people’s incentive to work. Meanwhile some people say guaranteed income could lead to greater economic and societal benefits beyond reducing poverty. I'd like to know your view on this.
How should universal basic income be funded - especially in developing economies?
So more advanced nations should share their resources....
That's all we have time for today. But thank you so much for making time for us today Dr. Basu.
We begin with a discussion on an issue making headlines.
As the COVID-19 pandemic continues to paralyze economies and cause millions of job losses around the world, more and more governments are preparing income support for their citizens.
But this has given momentum to the debate over having a universal basic income to guarantee citizens a minimum level of income support,... in the era of automation and artificial intelligence.
To delve into this issue, we have joining us today Dr. Kaushik Basu, a professor of Economics at Cornell University and former Chief Economist at the World Bank.
A growing number of countries are now moving to make emergency one-off payments for their citizens, whether it is universal or targeted to a certain level of income.
Of course, some say there's no such thing as a free lunch and that other measures such as unemployment benefits, food-stamps, and mandated sick leave would work just as well. What is your view on this?
The eligibility and the size of the payments differ from country to country but they are mostly one-time payments. Will a one-time relief be enough? How do you think the direct payments should be designed and distributed?
Would this leave us with a fiscal deficit though?
Millions, if not tens of millions of people around the world will lose their jobs throughout this pandemic. In recent years, concerns over automation have led to a wider debate over universal basic income. Do you think it is something we should consider in the long run beyond the pandemic?
Typical arguments against UBI are that it's costly and it reduces people’s incentive to work. Meanwhile some people say guaranteed income could lead to greater economic and societal benefits beyond reducing poverty. I'd like to know your view on this.
How should universal basic income be funded - especially in developing economies?
So more advanced nations should share their resources....
That's all we have time for today. But thank you so much for making time for us today Dr. Basu.