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"Economics Nobel Prize" Winners Are Advocating For Universal Basic Income

• by Dom Galeon

As such, UBI has been endorsed by experts from various industries, including some of the Silicon Valley's bigwigs. Now, some of the world's top economists are backing it up, too.

Speaking at a panel discussion at the 6th Lindau meeting on economic sciences back in June, winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel - more commonly known as the "economics Nobel prize" - endorsed UBI as a solution to the inequality brought by globalisation and automation.

"We should not try to deal with inequality by stopping these global processes, because these have the capacity to bring more prosperity to the world," Sir Chris Pissarides said.

"We should welcome expansion of trade and the opening up of India and Africa, and improve R&D to bring robotics into production. After all, if there aren't enough jobs for us all to do, we can take more leisure."

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