Ep20 "Risk and the Fundamental Tradeoff of Corporate Finance"
All Else Equal: Making Better Decisions
00:00
The Problem With Universal Basic Income
If you ensure people and just guarantee their income, they won't work as hard. There's a fundamental tradeoff in the economy between taking advantage of diversifying and the moral hazard that comes with that. If I know for a fact that I'm going to get paid, I will work less hard. And so the places we have experimented with this system, we've seen much lower income and much lower wealth.
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