A new book asks, ‘Does universal basic income actually work?’

Published December 5, 2025 4:20am ET



In the United States, the debate over a universal basic income is an exercise in “first world problems.” If we simply give everyone money, will we discourage work? Will some people buy cigarettes and lottery tickets instead of better housing and food? If we decide against a completely universal program, settling for an “unconditional cash transfer” instead of a true UBI, what subset of the population should get the payments? Should this no-strings-attached cash come on top of, or replace, our sizable existing welfare state? How should we pay for it, starting with the GDP of one of the world’s richest economies?

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