{"insight":{"id":"49378905","lede":"Using the Penn Wharton Budget Model, this study ran econometric simulations to predict the effects of various basic income plans.","slug":"a-deficit-funded-ubi-of-usd6k-year-is-modeled-to-increase-federal-debt-by-63-5-by","title":"A deficit-funded UBI of $6k/year is modeled to increase federal debt by 63.5% by 2027.","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".

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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.

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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":"debt","name":"Debt","id":"49378904","lede":"","ledeExcerpt":"","featured":null},{"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":"49378903","lede":"","link":"https://budgetmodel.wharton.upenn.edu/issues/2018/3/29/options-for-universal-basic-income-dynamic-modeling","slug":"options-for-universal-basic-income-dynamic-modeling","kind":"","title":"Options for Universal Basic Income: Dynamic Modeling","year":"2018-01-01","researchers":[]}]}}