Aaron Schnoor, your criticism of Andrew Yang’s “Freedom Dividend” is more about how it would be financed, rather than the concept itself. Your questions raised in that regard, I am sure, are valid ones.
I see real plusses to Yang’s concept (and you are right that it is not new, Thomas More was partial to the idea, some time ago). The guaranteed income would serve to counter that fundamental problem of people being left behind (or the fear of being left behind), due to new technologies, increases in trade and the flow of immigrants. Displacement, insecurity, loneliness and fear are all very real conditions in people, and have consequences for the nation. Today, these conditions in the US (Britain and other countries) have become, not only, massively apparent, but enormously destructive, and costly in wasted opportunities, lives and dollars. It may well be argued, that we would not have Donald Trump in office (or a likeness from the left), should we have a “happier” nation (Marianne Williamson’s one valid campaign contribution touched upon this). Andrew Yang is the candidate who addresses the “contentment” issue most directly.
A substantial guaranteed income (and Yang’s figure maybe insufficient), would allow a resetting of the nation, to once again, pursue policies that have delivered prosperity to the majority of Americans. Policies as — investing in research and development, facilitating trade around the world, and allowing the flow of immigration into the US. The enormous wealth generated by exercising these policies would be many times the cost of Mr Yang’s program (President Trump’s retraction of these policies has already cost the world economy a visible B$800). But those policies will not work and deliver the benefits, without a very generous public safety-net program in place.
The guaranteed income is more attractive than other social welfare programs, because it is unconditional (apart from being an adult). The administration costs would be relatively low, and many existing programs may be traded for this one program. The libertarian streak (devolving power to individuals) is appealing. Yang’s recipients are totally free to spend their monthly windfall how best suits them. They may choose to look after children or parents, attend school, begin a business or paint pictures. Some will use for vices — but so be it.
