Does universal basic income make people lazy?Winner of the 2019 Nobel Prize in Economic Sciences and Professor of Economics at MIT
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Universal Basic Income: Antidote or Poison?
With an increasing number of people struggling financially due to the pandemic, the topic of universal basic income, or UBI, has been gaining popularity. But what exactly is universal basic income? Is it the silver bullet to improve everyone’s standard of living? Or is it a trap that will lead to increased laziness?
As a long-time expert on poverty and inequality, Esther Duflo emphasizes the need for universal basic income in this lecture series, providing evidence from various experiments, extensive surveys, and historical events. She also corrects some of the basic misunderstandings and unfounded beliefs regarding UBI and explains the difficulties of achieving political consensus and of wealth redistribution itself. She also shares her opinions on country-specific solutions to improving welfare systems and securing public support in these uncertain times of a pandemic, global warming, the rise of artificial intelligence, and trade wars. Finally, she emphasizes that in order to overcome poverty, we must see the world from the perspective of the poor and feel a sense of connectedness with their struggles.
On GREAT MINDS, Esther Deflo’s lecture series, “Good Economics for Hard Times,” will offer straightforward answers to questions on universal basic income and act as a guide to implementing an ideal welfare system to lift millions out of poverty.
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Professor of Economics at the Massachusetts Institute of Technology Nobel Prize in Economic Sciences, 2019 Princess of Asturias Award for Social Sciences, 2015 Dan Davis Prize, 2013 John Bates Clark Medal, 2010 Best Young Economist of France Award, 2005 Co-author of 'Poor Economics' and 'Good Economics for Hard Times'
Esther Duflo is an American economist who was given tenure as an associate professor at the young age of 29. She had been interested in helping those less fortunate since she was a child, and she saw becoming an economist who advises governments as a way to fight against poverty.
Traveling to more than forty countries for the past twenty years, she has researched poverty at the local level and presented solutions based on unique scientific experiments to tackle the difficult questions. For this experimental approach to alleviating poverty, she became the youngest recipient of the Nobel Prize in Economics at age 46 in 2019. She’s also an accomplished author of such internationally-acclaimed works as 'Poor Economics' and 'Good Economics for Hard Times'.
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