Smart Money columnist Michael Taylor writes that a major study of unconditional cash transfers has undercut his enthusiasm for such programs.
One of my pet economic ideas of the past few years is that unconditional cash transfers as a step toward a universal basic income should be strongly considered either as a complement or substitute for our current societal safety net. But a rigorous study published this summer has informed me that, well, there’s little evidence to support my pet economic idea.
Texas thwarts a scientific approach to poverty reduction, offers a misleading reason for it Paxton’s stated reason for the lawsuit was simple: Such cash transfers equal incipient socialism and a “lottery” using public funds is illegal. My criticism of the lawsuit was also simple: A pilot program on a novel way of addressing poverty using randomly selected recipients is a way to gather high-quality data. It’s science, not socialism. I stick by that critique.
Nothing uplifting about Ken Paxton’s latest Harris County lawsuit One published paper found no effect on recipients on a wide variety of measurements of physical and mental health. The theory that they would benefit from greater access to medicine, mental health or physical health resources simply couldn’t be supported in the data. Another paper reported its effects on income and employment. There, too, the results were disappointing.
A radical idea: Universal basic income The typical right fear is that “money for nothing” is a big disincentive to work. A more nuanced view of hopes that does not code purely left or right is the critique that means-testing of anti-poverty programs also disincentivizes earning income. Means-testing is the idea that, after you earn a certain amount of income, you no longer qualify for valuable things like public housing, health insurance or kids’ free lunch at school.
In eliminating poverty, cold hard cash beats good intentions But the study has dented my enthusiasm. Poverty is complicated, to say the least. A single cash payment program is no cure-all. Of course, at the risk of seeming pollyannaish, the dream can stay alive because this one study doesn’t answer everything.
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