A bizarre Finnish amateur racing car practice for redistributing winning
06 Feb 2016 Leave a comment
in economics of media and culture, fiscal policy, income redistribution, labour economics, labour supply, law and economics, poverty and inequality, property rights, public economics, rentseeking Tags: basic income, car racing, Finland, guaranteed minimum income, negative income tax
Tony Atkinson’s ‘Inequality – What Can Be Done?’
24 Apr 2015 Leave a comment
in applied welfare economics, labour economics, minimum wage, Public Choice, Rawls and Nozick, welfare reform Tags: guaranteed minimum income, Leftover Left
I find proposal number 3 to target reducing unemployment rather perplexing because Atkinson in proposal number 5 wants to increase the minimum wage to the living wage, which will increase unemployment. He proposes a guaranteed child income, but he doesn’t appear to make proposals for a guaranteed family minimum income. A guaranteed family minimum income or an increase in the earned income tax credit, to use the American terminology, would increase the incomes of the low paid without threatening their job through a minimum wage increase.
Out Today: Tony Atkinson's new book 'Inequality – What Can Be Done?'
Here are his 14 proposals to reduce inequality: http://t.co/RPXmEBBFCR—
Max Roser (@MaxCRoser) April 23, 2015
From The Economist’s 1963 review of Capitalism and Freedom
20 Jul 2014 1 Comment
in labour economics, Milton Friedman, welfare reform Tags: capitalism and freedom, earned income tax credit, family tax credits, guaranteed minimum income, negative income tax
Curiously, a family tax credit or earned income tax credit is the most successful anti-poverty tool in the late 20th century. Furthermore, those on the Left are relatively convinced that the sole cause of poverty is a lack of money, and the solution is to give the poor more money.
Friedman, Hayek in the Constitution of Liberty, and George Stigler in his great paper on the minimum wage in 1946 all supported a guaranteed minimum income.
Utopia, you are standing in it! 
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