Guest Post by Mike Shedlock
“Free Money” experiments are underway in several places: Canada, California, and Finland.
“Living wage” advocates are elated.
Ongoing Free Money Experiments
- Canada Is About To Start Giving Away Free Money
- 100 People in Oakland Will Get Free Money as Part of a Basic Income Experiment
- Finns to Get Free Money in State Experiment Set to Start 2017
The alleged studies are all fatally flawed because they do not scale. It’s one thing to give a few hundred people or a few thousand people free money, but it’s another thing to scale the experiment across an entire nation.
Free Money – Dauphin, Canada Experiment
Huffington Post author Zi-Ann Lum proclaims A Canadian City Once Eliminated Poverty And Nearly Everyone Forgot About It.
The problem with superficial analysis by Lum and others is they only focus on half the equation. Yes, citizens of Dauphin benefited, but it was at the direct expense of everyone in all of Manitoba that had to contribute “free money” to the residents of Dauphin.
Were the same scheme available to everyone in Manitoba, the money would have had to come from all of Canada.
And for all Canadians, the money would have had to come from Martians.
Nonetheless, in spite of such obvious flaws, economic illiterates have latched on to the free money scheme.
Continue reading “Living Wage Idiocy and Free Money Experiments”
