Welfare for Markets: A Global History of Basic Income

Anton Jäger and Daniel Zamora Vargas trace the history of basic income, from its emergence in the late 19th century to its modern relationship with technopopulist figures in Silicon Valley. They argue that it is a market-friendly alternative to the postwar welfare state and has grown in interest due to the 2008 credit crisis and COVID-19 crash.

Format: Hardback
Length: 264 pages
Publication date: 18 April 2023
Publisher: The University of Chicago Press

The concept of a government providing financial assistance to its citizens to alleviate poverty, commonly referred to as basic income, has a historical lineage dating back to ancient Rome. However, its modern incarnation truly took shape in the late 19th century. Despite its widespread popularity, this contentious proposal attracts supporters from diverse political backgrounds.

In their insightful work, Anton Jäger and Daniel Zamora Vargas delve into the origins and evolution of basic income, tracing its trajectory from its emergence in American and British policy debates during periods of economic instability to its contemporary association with technopopulist figures in Silicon Valley. They chronicle how the idea initially gained traction in the United States and Europe as a market-friendly alternative to the postwar welfare state, and how interest in the policy has surged in the aftermath of the 2008 credit crisis and the COVID-19 pandemic.

Welfare for Markets presents an incisive and comprehensive account of how a fringe economic concept transcended national boundaries, heralding a profound shift in political culture since the end of the Cold War. The authors meticulously explore the various stages of basic income's development, from its initial conceptualization in economics seminars to its global proliferation. Through their meticulous research, they shed light on the mechanisms that propelled this idea from the periphery to the forefront of public discourse, highlighting the significant impact it has had on social policy and economic thinking.

This book serves as a valuable resource for scholars, policymakers, and individuals interested in understanding the historical roots, contemporary implications, and potential future directions of basic income. It provides a comprehensive analysis of the policy's historical context, theoretical foundations, and practical challenges, offering insights into the potential benefits and drawbacks of implementing such a system. By examining the evolution of basic income from its early origins to its current status as a hotly debated topic, Welfare for Markets contributes to our understanding of the complex interplay between government intervention, economic inequality, and social welfare.

Weight: 504g
Dimension: 235 x 160 x 24 (mm)
ISBN-13: 9780226823683