February 22, 2018

WE ALL KNOW WHERE WE'RE HEADED:

Giving Alaskans Free Money Didn't Stop Them From Working (Ben Leubsdorf, Feb 20, 2018, WSJ)

The annual payments made to every Alaska resident out of the state's oil wealth haven't reduced how many of them are employed, according to a new study, potentially alleviating one concern about the idea of guaranteeing every citizen a government-paid basic income.

"We speak to one part of this debate, which is, could this have a huge negative effect on labor supply?" said University of Chicago economist Damon Jones, who co-authored the National Bureau of Economic Research working paper circulated this month with Ioana Marinescu, an economist at the University of Pennsylvania.

People having more money to spend appeared to stimulate the economy, and offset the fact that some people may have been inclined not to work due to the payments. "Those forces seem to be canceling out," Mr. Jones said.

Posted by at February 22, 2018 4:39 AM

  

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