Because classical liberal doyen Friedrich Hayek proposed a minimum income for people unable to integrate into a market economy, many thinkers have viewed him as one of the earliest advocates of a universal basic income. In reality, however, Hayek advocated not a universal basic income but a means-tested benefits scheme.
Hayek Did Not Embrace a Universal Basic Income
By Juan Ramón Rallo
This
article
appeared in
the Winter 2019/20 issue of The Independent Review.
Other Independent Review articles by Juan Ramón Rallo | |
Winter 2022/23 | Knightian Uncertainty in Capitalism and Socialism |
Spring 2018 | Some Fundamental Problems with Thomas Pikettys Capital in the Twenty-First Century |