When work doesn’t pay: Ideas for a better economic system


Guy argues that the current economic system is broken. Freelancers, contractors and new small business have become the precariat: those who don’t know how much they will be paid this month, because they are not sure of regular work. This means they don’t know if they can pay the mortgage or rent. They also get taken advantage of, by being offered contracts that can easily be withdrawn and being pushed down on price to guarantee work.

As a leading economist, Guy suggests some alternative ideas that could create a better economy, including the concept of basic income that can provide financial security for all. These ideas, in turn, may encourage more entrepreneurship, as people can feel confident to take more chances and risk failure to make their businesses better, which is key to a thriving economy.

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