JAN 29, 2018
Money for nothing. If you live in Stockton, CA, which went bankrupt in 2013 after taking on huge loans for “arenas and marinas and things of that sort,” you may be $500 richer every month for the next year. Several dozen families will be receiving this payout, referred to as ‘universal basic income,’ or UBI.
The hope is to demonstrate UBI’s potential and encourage other places to give it a try. UBI has recently gotten a boost from Silicon Valley moguls concerned about income inequality and the future of society.
Is the future of society predicated upon free fiat currency for all, for no other reason than you’re still breathing?
The idea isn’t new. Stanford law professor Michelle Anderson notes that “UBI was first pitched by Nixon as an answer to post-industrial job losses.”
Free printing press money was not then, as it is not now, the solution to a stagnating economy on any level, be it municipal or federal.
ORIGINAL SOURCE: Stockton Gets Ready to Experiment With Universal Basic Income by Sam Harnett of KQED News on 1/22/18