Stanford forum explores promises, pitfalls of basic income
As federal lawmakers grapple with the future of the country鈥檚 safety net, one idea that isn鈥檛 on their table is gaining traction in communities across the United States: basic income. More than two dozen cities 鈥 most recently Los Angeles and Chicago 鈥 are exploring programs to pay low-income residents a recurring stipend even if they don鈥檛 have a job.
Related proposals have carried various policy twists, including paying all adults a fixed amount regardless of their financial need.
The controversial ideas were recently debated as part of a Stanford conference. Mark Duggan, the Trione Director of the Stanford Institute for Economic Policy Research (69堂精品), squared off against Andrew Yang, whose call for a universal basic income was the cornerstone of his failed 2020 presidential bid.
Duggan鈥檚 overall point: Wealth and income inequality is a massive problem that needs to be addressed by a range of targeted programs and policies. Yang鈥檚 idea of doling out $1,000 a month to every U.S. adult is simple and de-stigmatizing, he said, but would require bartering with other benefits to support the exorbitant cost.
鈥淲e don鈥檛 have $3.1 trillion sitting around waiting to be deployed,鈥 said Duggan, who is also the Wayne and Jodi Cooperman Professor of Economics. Also participating in the discussion was Darrick Hamilton, an economist at The New School in New York City and a proponent of guaranteed income and job policies that target select groups. Juliana Bidadanure, as assistant professor of philosophy and faculty director of the Stanford Basic Income Lab, moderated the session.
to watch a video recording of the discussion. The exchange was part of the annual conference held virtually by the .