One Reason to be Cheerful: Universal Basic Income
Former leader of the UK Labour Party Ed Miliband, along with British radio and TV personality Geoff Lloyd have just recently started a new podcast titled, "Reasons to be Cheerful." They approached me to be their first guest so that their first episode could be about the idea of universal basic income.
Here's the episode:
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I'm going to give this a listen. I'm always looking for new podcasts to subscribe to to listen while driving, running errands, shopping, doing chores and last but not least walking the dog :D
Would an UBI affect personal loans from banks. Maybe affecting the interest or loan rate?
You may find this interesting, which is about the effect of basic income on moneylenders in universal basic income experiments.
Basically, a common effect of unconditional cash in general, is to reduce debt and increase savings. That's a pretty universal outcome. With that being the case, I imagine people offering high interest loans are going to have a very hard time finding as many people to accept high interest rates, and will either go out of business or be forced to lower their interest rates.
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I listened to your interview portion of the podcast. It's been very interesting reading your thoughts on UBI since you joined the Unmentionables. I have to say that I had not really looked into all of the economics and dilemmas that a universal basic income would present, but I can appreciate that you're facing them head on while advocating for it.
I certainly find the concept intriguing. Especially the emotional aspect that you describe. It would be nice knowing that no matter what I did with my life, I'd have enough for necessities no matter what. It would give me freedom to work in different places, travel, and even help others.
I'll definitely be reading your future posts and catching up on some of your older ones. I appreciate the effort that goes into the presentation of your thoughts and the responses to the comments here.
Thanks for sharing!
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