The Argument for Universal Basic Income

On June 5, 2016, the citizens of Switzerland decided NOT to allow their government to give them free money. The neutral Western European nation, population 8 million, held a public referendum in which the question was this: should the government provide all Swiss adults with a guaranteed salary equivalent to US $30,000 a year? Unsurprisingly, most Swiss said no, with 77% of voters against. Why did the Swiss vote against the world’s first real UBI initiative? Because they don’t need it. The country is one of the most economically empowered in the world, with the highest wealth per adult citizen,...