Name: Can Universal Basic Income / Social Democracy Fix America’s Inequality? | Jeffrey Sachs
Uploaded: 2017-03-25T18:57:21.000Z
Duration: 5 min 15 s
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There’s a proposal around that’s got a lot of interest called universal basic income

Basic passive voice

where everybody is guaranteed at least a certain level of income in the society.

Some free market economists like Milton Friedman talked about a negative income tax which in

effect had the same features of guaranteeing a certain level of income for everybody as

I think from a human rights and decency standard there’s a lot of sense to the idea that

everybody in a society should be able to meet their basic needs.

There’s on the other hand this sense if you give someone a check whether they’re

trying, not trying, working, not working.

If there’s no effort, no conditionality involved at all maybe we’re going to get

a lot of people that are absolutely doing nothing on the backs of those who are really

So the incentive issues are real even if the sensitivity and decency issues are also real.

I think that one way to handle this is a little bit more rounded rather than seeing a universal

basic income as a check and kind of an unconditional check that’s just handed out as income.

I like the idea of social democracy as it’s applied in real countries in Europe, the Netherlands

The idea is everybody has access to publicly financed healthcare.

Everybody has access to quality publicly financed education including college tuitions.

Not a trillion dollars of crushing student debt, but tuitions paid for.

Everybody has access to not only guaranteed vacation, but paid vacation.

Everybody has access to quality childcare so that moms can go to work knowing that their

kids are in a healthy, nurturing environment.

Everybody has access to maternity leave so that moms and also paternity leave, dads can

stay home with their kids for several months.

It’s kind of decent where you say we have all this wonderful technology, this wealth.

Why don’t we live decently, not miserably.

If people want a market income beyond that they’ve got to go work for it.

If, of course, they’re disabled or for some reason can’t then there’s added social

support but it’s not cash in people’s pockets.

I see it as basically living decent lives in decent societies.

They have a very different spirit to them.

There aren’t a lot of super rich Wall Street hedge fund misanthropes – and I’ll use

the term advisably because I find a lot of people on Wall Street don’t give a damn

about anybody else except they care about their money.

But you don’t find that kind of idea in northern Europe because it’s really looked

And people don’t like it when people are money grubbing.

I remember once I was running to the airport in Oslo and I fly business class and I’m

constantly moving around on trips relentlessly around the world.

And I ran up and said, “Where’s the business class line to board?”

And the guy looked at me like I was crazy and he said, “Excuse me, we’re boarding

And I just thought okay, that’s pretty cool actually, you know.

Everybody’s in line and let’s all get on the plane.

It’s the idea that we like – well by the way this is not people tearing their clothes

and living in hair shirts and not enjoying themselves.

They like their boats in the Stockholm archipelago.

They don’t want to do it at the expense of others.

God, if America could just get a little of that back rather than a president who believes

Sick, but that’s what we got and that is what’s degrading American society.

Not just the rising inequality but this spirit that you’re a winner or you’re a loser.

And if you’re a loser get out of the way.

It’s ugly and we’ve had enough of it.