Basic Income and the Transformation of Work

Abstract

The consequences of any proposal for large-scale social reform are fraught with uncertainty. Nevertheless the claims advanced in this chapter on behalf of basic income amount to more than a merely speculative prospectus. A start has already been made in charting the broad features and developmental tendencies of a BI society and in marking the boundaries of its terra incognita.¹ Undoubtedly much more intellectual exploration is needed to push back these boundaries. But it should be borne in mind that theory and empirical simulations can only improve our knowledge of this new world up to a point: on some crucial issues extrapolations or predictions based on current behavioural patterns will never be a reliable substitute for actual historical experience. A case in point is the response of labour supply once the unprecedented step has been taken to convert waged work into an activity which is genuinely optional for everyone, not just for those with independent means.