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.

Juan Ramón Rallo is professor of economics at Universidad Francisco Marroquín.
EconomistsEconomyPhilosophy and Religion
Other Independent Review articles by Juan Ramón Rallo
Winter 2022/23 Knightian Uncertainty in Capitalism and Socialism
Spring 2018 Some Fundamental Problems with Thomas Piketty’s Capital in the Twenty-First Century