From a personal point of view and from an economic point of view, this is nothing short of potentially disastrous for people's livelihoods.
Making sure that sick people get the care they need and don't infect others is one of the key planks of containing COVID-19 - but the majority of the world's workers have little choice about putting in a shift, even if they feel unwell.
The welfare state is broken. UBI is the smarter, more effective option.
- The welfare state is an ineffective and expensive system that hurts and targets the poor more than it helps. Universal basic income is a better alternative that could work.
- The question becomes, then, where would the money for UBI come from? There are a myriad of reasons why UBI via taxes would be a bad idea. Instead, we should look to socially produced capital.
- Companies rely on people to be successful, so a percentage of all shares of all companies should go into a public equity trust and the dividends should be distributed to every member of society equally.
Economics professor Stephen M. Miller shares his insights in this exclusive interview.
- Stephen M. Miller, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas, gives insight into how the COVID-19 pandemic impacts American economies.
- Calling it a "trade-off between public health and economic health," Miller explains why social distancing is a necessary measure to avoid a total crash of economies.
- The SIR model, which is a guide to assessing how much of the population is actively infected, shows what could happen if the active cases of infection goes above 10% of the population.
Inequality from the Recession has a lot to do with how the government designed its response.
"Superstar" firms have been lowering labor's share of GDP in recent decades, a new study finds.