UBI Can Make the US Economy Trillions of Dollars Larger, Study Says

UBI Can Make the US Economy Trillions of Dollars Larger, Study Says

A Universal Basic Income can grow the US economy and make it trillions of dollars larger, permanently, according to the relatively new study by Roosevelt Institute.

“For all three designs, enacting a UBI and paying for it by increasing the federal debt would grow the economy. Under the smallest spending scenario, $250 per month for each child, GDP is 0.79% larger than under the baseline forecast after eight years.

The model finds that the largest cash program – $1,000 for all adults annually – expands the economy by 12.56% over the baseline after eight years.

After eight years of enactment, the stimulative effects of the program dissipate and GDP growth returns to the baseline forecast, but the level of output remains permanently higher.”, the study includes.

A new report from a consultancy has found, automation will replace up to 80 of today’s jobs by 2030, up to 800 million global workers will lose their jobs by that time and be replaced.

We are starting to see that take effect already, as autonomous vehicles and cashier-less stores are already replacing job positions.

There is a main reason all these populist movements are appearing world-wide, and that reason is globalization (which is a good thing in general), automation and partly countries that are violating trade agreements like China.

The solution can only by a Universal Basic Income in the economy’s side, and more united countries in order to defeat authoritarianism and influence by countries with no free values.

For all three designs, enacting a UBI and paying for it by increasing the federal debt would grow theeconomy.
 Under the smallest spending scenario, $250 per month for each child, GDP is 0.79%larger than under the baseline forecast after eight years. The model finds that the largest cashprogram – $1,000 for all adults annually – expands the economy by 12.56% over the baseline aftereight years. After eight years of enactment, the stimulative effects of the program dissipate andGDP growth returns to the baseline forecast, but the level of output remains permanently higher.
For all three designs, enacting a UBI and paying for it by increasing the federal debt would grow theeconomy.
 Under the smallest spending scenario, $250 per month for each child, GDP is 0.79%larger than under the baseline forecast after eight years. The model finds that the largest cashprogram – $1,000 for all adults annually – expands the economy by 12.56% over the baseline aftereight years. After eight years of enactment, the stimulative effects of the program dissipate andGDP growth returns to the baseline forecast, but the level of output remains permanently higher.

Tom Frl

Find me on Twitter: @TomFrl
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