Why don't governments support the Universal Basic Income?

 

The UBI could help fix many of the problems faced by rich economies, but governments wont touch it so long as the rich remain in charge.

This is the second in a Bonkers Economics series of videos answering questions I gathered from a Facebook post.

If you have questions of your own that challenge mainstream economic thinking (or questions about this video) then please add them here in the comments.

Questions to come include: 

What are the limits of markets and where are they inappropriate?

What supports and what undermines well functioning markets?

Why does wealth / power concentrate?

Why is economics based on axioms that aren’t true?

How can we value nature without commoditising it?

Why doesn’t anyone notice that the economy is us? It’s not separate. It’s us doing things, and nothing more?

Is sovereignty a valid concept or a smokescreen?

Can we have a democratic society when the majority of people don't understand tech?

If we abandon growth as a goal how do we measure success as society? 

What would be the mean standard of living to enable all to flourish?