Welfare for Markets: A Global History of Basic Income (The Life of Ideas)

"A sweeping intellectual history of the welfare state's policy-in-waiting From Thomas More to Thomas Paine, Milton Friedman to Mark Zuckerberg, centuries of public figures have hailed the power of government payments as a tool for advancing social justice. For some advocates, basic income is a moral imperative, a policy with potential to upend structural inequalities; for others, it's a market-friendly version of the welfare state that doesn't constrain capitalism. By appealing differently to different political sensibilities, basic income has persisted in the political imagination for centuries. In this deeply erudite and original work, Anton Jäger and Daniel Zamora offer the first historical examination of basic income as a policy of convenience--and, critically, as an intellectual backstop for the shortcomings of capitalism. With modern origins in works of neoliberals like Friedrich Hayek, basic income was conceived as a form of market-friendly welfare state-a safety net around capitalism that wouldn't impinge on capitalism. Although neoliberals failed to make the idea a reality, they succeeded in seeding a fascination that would permeate all corners of late-century capitalism, from supply-side Democrats to neoclassical economists and barons of Silicon Valley. Basic income, Jäger and Zamora show, is no mere political sideshow. Amid societies' ongoing search for market-friendly utopianism, it may be a policy whose time has finally come"-- Provided by publisher A sweeping intellectual history of the welfare state’s policy-in-waiting. The idea of a government paying its citizens to keep them out of poverty—now known as basic income—is hardly new. Often dated as far back as ancient Rome, basic income’s modern conception truly emerged in the late nineteenth century. Yet as one of today’s most controversial proposals, it draws supporters from across the political spectrum. In this eye-opening work, Anton Jäger and Daniel Zamora Vargas trace basic income from its rise in American and British policy debates following periods of economic tumult to its modern relationship with technopopulist figures in Silicon Valley. They chronicle how the idea first arose in the United States and Europe as a market-friendly alternative to the postwar welfare state and how interest in the policy has grown in the wake of the 2008 credit crisis and COVID-19 crash. An incisive, comprehensive history, Welfare for Markets tells the story of how a fringe idea conceived in economics seminars went global, revealing the most significant shift in political culture since the end of the Cold War. Contents Introduction: Welfare without the Welfare State Chapter 1 An Anti-Mythology Chapter 2 Milton Friedman’s Negative Income Tax and the Monetization of Poverty Chapter 3 Cash Triumphs: America after the New Deal Order Chapter 4 The Politics of Postwork in Postwar Europe Chapter 5 Rethinking Global Development at the End of History Epilogue: Basic Income in the Technopopulist Age Acknowledgments Notes Archives Consulted Index