Cash payments are the most direct way to reduce the economic harm that lockdowns will inflict on the one-fifth of workers employed in vulnerable service industries.
Large metropolitan areas have thrived as places for work based on close, in-person interaction-information businesses with creative and professional workers, as well as services that offer a variety of retail products.
Policy makers must resist the urge to extend these payments beyond the crisis because most of the time Americans need to work more, not less.
America should never accept the dystopian vision of a vast army of unemployed workers sustained by government handouts that are labeled "Basic income."
The negative income tax experiments of the 1970s, which are a model for unconditional cash transfers today, are estimated to have reduced hours worked by one to five weeks a year among transfer recipients.
While we are in the maw of this plague, people should be discouraged from going to work outside the home anyway, and so the downsides of cash transfers are minimal.
As policy makers deliberate on the best form of long-term stimulus, they will need to think seriously about encouraging work and job creation.
https://www.wsj.com/articles/for-now-pay-workers-to-stay-home-11585005030?mod=hp_opin_pos_3
Large metropolitan areas have thrived as places for work based on close, in-person interaction-information businesses with creative and professional workers, as well as services that offer a variety of retail products.
Policy makers must resist the urge to extend these payments beyond the crisis because most of the time Americans need to work more, not less.
America should never accept the dystopian vision of a vast army of unemployed workers sustained by government handouts that are labeled "Basic income."
The negative income tax experiments of the 1970s, which are a model for unconditional cash transfers today, are estimated to have reduced hours worked by one to five weeks a year among transfer recipients.
While we are in the maw of this plague, people should be discouraged from going to work outside the home anyway, and so the downsides of cash transfers are minimal.
As policy makers deliberate on the best form of long-term stimulus, they will need to think seriously about encouraging work and job creation.
https://www.wsj.com/articles/for-now-pay-workers-to-stay-home-11585005030?mod=hp_opin_pos_3
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