Robert Skidelsky, “Minimum Wage or Living Income?”
Skidelsky, a distinguished academic in history and economics, writes on the Conservative government in the UK and their budget that was released in early July. They plan to cut £12 billion in welfare, with £9 billion of that coming from cuts in tax credits, which are in place to help working families reach some semblance of a living income. While the government plans to raise the minimum wage, Skidelsky worries that such a policy re-emphasizes the importance of income generated by labour in a time when automation looks set to make millions of jobs redundant. Instead, Skidelsky believes a basic income is necessary as labour markets shift.
Robert Skidelsky, “Minimum Wage or Living Income?”, Project Syndicate, 16 July 2015.