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I think you mean "no minimum wage", not "no basic income". Friedman was especially supportive of a basic income (negative income tax to be precise).


Yeah, that makes a lot of sense actually: basic income + no minimum wage (or if politically impossible, not raising minimum wage) -- since the basic income will continue even if someone is employed, it's a great incentive to stay to in the labour force and advance even if the pay is minimal.

I do think that Milton Friedman may not have foreseen the way automation might lead to at least long-term (but perhaps not permanent) structural unemployment.


Yes, bad english. Sorry.




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