Basic Income Will Kill the Economy

by Jeff D. Opdyke
The Sovereign Investor

Irony isn’t often as emphatic as this.

I’m sitting in the lobby of my favorite hotel in Bucharest, Romania, waiting on my girlfriend, and I’m scanning the news of the day on my phone. I come across an article, penned by an economist from the supposedly nonpartisan (but funded by labor) Economic Policy Institute that claims higher wages are the solution to America’s expanding reliance on payday lending.

A few minutes later, I come across a second article titled: “This robot-powered restaurant could put fast-food workers out of a job.”

The two theses are mutually exclusive. They cannot coexist. Only one will win … and, I can promise, it’s not the position held by the economist. I can also promise that you and I will ultimately feel the repercussions in our paychecks and in our wallets…

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