{"insight":{"id":"49378896","lede":"Using The Levy Institute's model of the economy, The Roosevelt Institute ran econometric simulations to predict the effects of various levels of Universal Basic Income on the economy.","slug":"a-tax-funded-usd1k-month-ubi-is-modeled-to-raise-prices-by-0-56-over-baseline-aft","title":"A tax-funded, $1k/month UBI is modeled to raise prices by 0.56% over baseline after eight years.","showTitleAsQuote":false,"epistemicStatus":"econometric","reports":[{"id":"19519421","title":"Basic Income","slug":"basic-income"}],"tags":[{"slug":"growth","name":"Growth","id":"23932836","lede":"

We define growth as the expansion of wealth in society; growth is about generating a "a bigger pie".

\n\n

Amidst debates over the merits of continued growth, we begin with the idea that all else equal, a society with growth, with more wealth, is preferable to one with less. Without growth, society becomes a zero-sum distributional game: anyone's gain is another's loss. Growth (all else equal) enables shared prosperity.

\n\n

But there is broad agreement that current measures of growth, such as GDP, are inadequate to the task of providing a suitable proxy to guide further growth. Whether devising improved measures that account for missing elements such as sustainability, equity, leisure time, or digital value, or constructing altogether new proxies (OECD's Better Life Index, for example), the conversation about how best to measure, and thus drive, equitable, regenerative, socially desirable growth is a rich field of debate.

\n","ledeExcerpt":"We define growth as the expansion of wealth in society; growth is about generating a \"a bigger pie\".\n\nAmidst debates over the merits of continued growth, we begin with the idea that *all else equal*, a society with growth, with more wealth, is preferable to one with less. Without growth, society becomes a zero-sum distributional game: anyone's gain is another's loss. Growth (all else equal) enables shared prosperity.\n\nBut there is broad agreement that current measures of growth, such as GDP, are inadequate to the task of providing a suitable proxy to guide further growth. Whether devising revised measures, such as Tyler Cowen's notion of wealth plus\" (GDP, plus measures of leisure time, household production, and environmental considerations), or constructing altogether new proxies (OECD's 'Better Life Index), the conversation about how best to measure, and thus drive, equitable, regenerative, socially desirable growth is a rich field of debate.","featured":true},{"slug":"inflation","name":"Inflation","id":"49378895","lede":"

Inflation is the rise in price level of a nation's currency, which corresponds to a decrease in purchasing power.

\n","ledeExcerpt":"Inflation is the rise in price level of a nation's currency, which corresponds to a decrease in purchasing power.","featured":true},{"slug":"ubi","name":"Universal Basic Income (UBI)","id":"19519447","lede":"

Universal Basic Income is an unconditional, individual, periodic, cash payment granted to all citizens regardless of income or employment status.

\n","ledeExcerpt":"Universal Basic Income is an unconditional, individual, periodic, cash payment granted to all citizens regardless of income or employment status.","featured":null}],"sources":[{"id":"49378750","lede":"","link":"https://rooseveltinstitute.org/wp-content/uploads/2020/07/RI-Macroeconomic-Effects-of-UBI-201708.pdf","slug":"modeling-the-macroeconomic-effects-of-a-universal-basic-income","kind":"","title":"Modeling the Macroeconomic Effects of a Universal Basic Income","year":"2017-08-29","researchers":[{"id":"49378747","location":"","name":"Michalis Nikiforos","seoDescription":"","slug":"michalis-nikiforos"},{"id":"49378748","location":"","name":"Marshall Steinbaum","seoDescription":"","slug":"marshall-steinbaum"},{"id":"49378749","location":"","name":"Gennaro Zezza","seoDescription":"","slug":"gennaro-zezza"}]}]}}