Basic Income: an idea whose time has come?

#BasicIncome: an idea whose time has come? #economicsfest with @TorstenBell @IPR_NickP @anthonypainter @Jderbyshire:  http://www.ideasfestival.co.uk/events/basic-income/ …

Over 100 school students in for basic income #economicsfest debate. Here's some of them. Thank you for coming.  https://twitter.com/heconomics/status/799229630486106112 …

#basicincome requires a #politics of compassion and solidarity, says @anthonypainter. We may not be there yet. #economicsfest

Anthony Painter: basic income has worked when tried, many benefits & costs no more than proposed cuts to corporation tax. #economicsfest

Painter: Future jobs will be task-based rather than career-based: the "gig-based economy". #economicsfest

Nick Pearce: rhetoric of basic income is of independence. Independence from each other not necessarily a good thing. #economicsfest

Finally, @IPR_NickP concludes that #UBI will need to be a #political protect rooted in social understanding. #economicsfest

Pearce: Basic income advocates promise independence but it would involve many people in a dependence on the state. #economicsfest

Louise Haag telling the story of social workers in Denmark campaigning against conditionality, road to #basicincome ? #economicsfest

Louise Haagh: Welfare state is overdue a transformation to reflect modern world of work. Basic income is 1 element of this. #economicsfest

The revival of interest in a Universal Basic Income, @IPR_NickP #economicsfest:  http://blogs.bath.ac.uk/iprblog/2015/12/10/back-to-the-future-the-revival-of-interest-in-a-universal-basic-income/ …

Employment rate has never been higher. March of the robots not coming @TorstenBell #basicincome #economicsfest

Torsten Bell: basic income won't happen. Robots not taking jobs in quantities predicted. BI relevant to US society, not UK. #economicsfest

Has #basicincome had its day in the sun? @Jderbyshire asks the panel after @TorstenBell's 'unfriendly' take. #economicsfest

Robots not critical in this debate - at least in U.K. #economicsfest.  https://twitter.com/economics_net/status/799236939459084288 …

Haagh: basic income has long been a philosophical, or politically radical, idea. Now seen more as a political option. #economicsfest

Issue comes down to comprehensiveness: should UBI replace most/all of welfare state? I think it can re:employment insurance #economicsfest

However, political concerns are real, says @IPR_NickP. Recalling PM Brown, he confirms politicians' desire for 'proposals'. #economicsfest

The problem with #basicincome as a big idea, @IPR_NickP says, is that big ideas may never happen. #economicsfest #UBI #Grundeinkommen

Pearce: Basic income can be approached incrementally, eg flat pensions, BI for young people, rather than all at once. #economicsfest

Louise Haag touches on the unspoken truth of this discussion: what about the developing world? #economicsfest

If cash grants are a good method of alleviating poverty in the dev world, why isn't it good for the developed world? #economicsfest

.@TorstenBell points out #basicincome goes beyond the 'Bernie' fringe & youth to mainstream in countries like #Canada. #economicsfest

Haagh: Funding for BI is a political choice that will vary across countries. Brazil is phasing in as public finances allow. #economicsfest

@economics_net but if we think of it as negative income tax? (I am in no form an economist, or even a social scientist, so be gentle)

@TrabiMechanic Negative income tax has been mentioned in debate as 1 of many forms BI proposals have taken over the years.

@TrabiMechanic Panel disagree on whether BI is a progressive communitarian idea or a libertarian fantasy of individual freedom.

Panel disagreement about cost of implementing basic income in the UK: 1% of GDP (compable to other welfare measures) or 5%? #economicsfest

.@LHaagh & @TorstenBell point to trends in #productivity & middle class squeezing that far outstrip #technology. #economicsfest

Question: will BI reduce incentives to work? Painter & Haagh: means-tested welfare already disincentivises additional work. #economicsfest

Bell: UBI may increase incentives to earn more, but reduces incentive to join workforce. Painter: we need data on effects. #economicsfest

Amid anxiety over technological disruption, is a guaranteed state payment the future of welfare? #economicsfest:  https://www.ft.com/content/7c7ba87e-229f-11e6-9d4d-c11776a5124d …

Pearce: Institutions, rather than transfer of income, can promote community & social equality. Example: the NHS. #economicsfest

At #economicsfest, the panel are discussing #BasicIncome - 'We know it works, but do we have the politics to get us there?'

#basicincome enables #welfare & #freedom, but more, might rebuild social democracy & sense of public good. @LHaagh at #economicsfest

.@Jderbyshire wraps up engaging panel by thanking them, the audience & @FestivalofIdeas #economicsfest for organising. Thanks for following!

#economicsfest @FestivalofIdeas 'Tory men and liberal ideas change the world' said Nixon on his #basicincome proposal.

In support of a universal basic income, @theRSAorg model explained by @anthonypainter #economicsfest:  https://www.thersa.org/discover/publications-and-articles/rsa-blogs/2015/12/in-support-of-a-universal-basic-income--introducing-the-rsa-basic-income-model …

@economics_net BI will reduce incentives to work. Any welfare does. Maybe key question is: could it be part of a new, better model?

@simonbusiness1 True. Panel handled the question as "will it decrease incentives relative to existing welfare system?".

Great panel on universal basic income in Bristol.  https://twitter.com/festivalofideas/status/799230107097432064 …

If you missed our #economicsfest panel on #basicincome, you can read coverage of the debate here:  http://www.bath.ac.uk/ipr/news/news-0262.html … @FestivalofIdeas