A Universal Basic Income (UBI) is when the state distributes a flat amount of money to everyone as a right of citizenship unconditionally, unlike welfare programs which often create dependency.
A job guarantee is a policy proposal aimed at providing a sustainable solution to the dual problems of inflation and unemployment by promising to hire unemployed workers as an employer of last resort.
A job guarantee as a socialist policy, would not allow the labor market to function independently, therefore it would create a large amount of useless job positions which would only be there just to satisfy the unemployment numbers, while they would not price any real wealth.
A Universal Basic Income on the other side, as a policy similar to Alaska’s oil fund program which is very popular and created millions of jobs would reduce unemployment the right way and grow the economy by $2.5 trillion.
“In the next 12 years, 1 out of 3 American workers are at risk of losing their jobs to new technologies—and unlike with previous waves of automation, this time new jobs will not appear quickly enough in large enough numbers to make up for it. To avoid an unprecedented crisis, we’re going to have to find a new solution, unlike anything we’ve done before.
Andrew Yang is an entrepreneur and 2020 Democratic presidential candidate, he has many and meaningful policies, but the boldest of them is the Freedom Dividend, “a universal basic income of $1,000/month, $12,000 a year, for every American adult over the age of 18. This is independent of one’s work status or any other factor.”, a the site mentions,
“It all begins with the Freedom Dividend, a universal basic income for all American adults, no strings attached – a foundation on which a stable, prosperous, and just society can be built.”.
“I find the Freedom Dividend vastly superior to something like the federal jobs guarantee”, Andrew Yang mentioned in an interview.
A Universal Basic Income would instead of giving the 100% of the tax revenue to the government, give a percentage of it directly to the citizens, while a job guarantee would only give better imaginary underemployment stats, a technique often used by socialist and authoritarian countries, Universal Basic Income seems to be the best wealth redistribution option for a democracy.