Note to Swiss: Basic income plans have a basic flaw

An article on Bloomberg Markets highlights research by UBC economist Kevin Milligan in advance of the upcoming Swiss vote on universal basic income.

Milligan found that it’s unlikely any basic income initiative will accomplish all of its professed goals and any plan will require trade-offs. His “impossible trinity” model, including a phase-out rate, the size of the payout, and the overall cost of income assistance programs, are are all desirable factors but can’t happen at the same time.