Milton Ezrati is an economist, investment manager, author, and from what we sadly realized today, he is opposing Universal Basic Income (UBI).
On his article on Forbes, he is attacking UBI through arguments that doesn’t make sense, as they’re based on opinion, and not facts.
He suggests that Universal Basic Income would be costly, but a study already found that UBI would grow the economy by $2.5 trillion, so what is the real reason that these people attack UBI?
Universal Basic Income will provide true individual freedom to all human beings and people who attack UBI don’t like that, as they usually benefit from from those who work paycheck to paycheck, obviously without benefiting the society doing that.
Ignorance of human rights also contribute to the spread of opposition on Universal Basic Income, as people aren’t aware of the “right to survive” and how our current inefficient welfare system doesn’t cover it.
There are also some who oppose UBI because they claim that it’s Socialism or something similar, but it’s actually the exact opposite, as a report on Vetze about the subject mentions:
“In socialism, the state chooses what you need, in Advanced Capitalism (Capitalism with a UBI) you choose how you’ll spend the basic economic capital that is provided to you by the state.
In other words, basic income is not a form of socialism, but is concerned with the distribution of income whereas socialism is a system of organizing the ownership, production and allocation of goods and services.
Socialism is defined as an economic system based on social ownership and operation of the means of producing wealth. This is a distinct concept from a basic income, which does not require social ownership of capital assets.”