How South Korea Experiments With Universal Basic Income | WSJ

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To stimulate its pandemic-hit economy, a province in South Korea has been experimenting with universal basic income programs by regularly giving out cash, no questions asked. Now, some politicians want to go national with the concept. Illustration: Crystal Tai/WSJ

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25 COMMENTS

  6. If some countries not ready make Universal Basic Income for humans , it is possible to make UBI for create modern infrastructure in cities and in villages where it is super important and need to make changes for safety and better quality life.

  9. So where is the money coming from? From those who is working hard every day. So who is beneficial for this? The card company! The company made a lot of money from this policy. What if you do not spend all money on time? There will be some money left, who's taking benefits of it? Yes again card company.
    Under the previous administration, the national debt increased by $290 billion. Who carries the debt? Like you & me the ordinary people are responsible for it. There is no free lunch in this world. The world isn't perfect. Paradise doesn't exist. Every day work makes your life greater.

  10. Would robotic automation cause prices to plummet?

    Instead of paying 1,000 people x $100,000 or $100,000,000 per year, we could pay 1 robot nothing.

    So, remove the cost of labor, and everyone else keeps the money. Of course those 1,000 people have no income, but 1,000,000 people keep a little more money in their pocket.

  12. The woman complaining about this being a privacy concern needs to pull her head out of the sand, these days privacy is an ever dissipating thing, a countries government ensuring that you're spending free money in local businesses is NOT a privacy concern, she should be focusing on the very companies causing this unemployment who make money by selling our data, South Korea is one of the most politically free places on Earth, presidents have been removed and arrested when people have protested against them, even recently government officials attempted to shut down a LGBT pride parade in Daegu but where literally removed by police who argued it was a lawful event, despite Korea being a relatively conservative country, the voice of the people in Korea is far more adhered to than in most other countries on Earth so pardon my skepticism but I just don't see more oppressive policies going into place without major backlash there. The point of this money which people would otherwise not have is to boost the economy and save local businesses, the entire concept is not only brilliant but absolutely necessary in a world where most jobs will fall to automation. South Korea is absolutely setting an example for the rest of the world, people being out of work due to automation may save companies money but will cause countries to lose far more money due to people not being able to spend and the butterfly effect could cause chaos, South Korea saw a potentially terrible situation and chose to act in a very logical and obvious way and the results of the experiment prove that this is absolutely the way to go in the future.

  14. You can't "test" a basic income. The big benefit of a basic income is that people have to know it's there so they can plan their lives accordingly and take more risk, e.g. So if you tell people it's an experiment that's just like any other welfare program that could be cut or expanded at any moment in time and can't be relied upon. What kind of idiots do we have? It almost sounds like they want the test to fail in the first place.

  15. UBI will likely become possible through the increasing automation of labour over the next few decades.

    By taxing the labour of machines and AI, a lot of money would likely become available

    UBI should be structured based on your qualifications though. That way we can continue to incentivise education

  20. I think the lady talking against is with the Russian Oligarchy lol.. it's already in control of you what are you talking about?Welfare can be taken too right now lol.. So Welfare is very conditional already and is not given to everyone so there are people on the streets right now..

  22. This is how socialism and communism starts…the left are so cruel to gaslight citizens who do not understand the basic concept of the free market system. Thankfully, South Korea was saved by the right side party in the 2022 election.

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