The great UBI debate: Universal basic income decimates big cities – The Property Chronicle
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The great UBI debate: Universal basic income decimates big cities

Head Of Research

The research department behind this piece is run by Steen Jacobsen. A million years ago I worked with Steen Jacobsen on the trading floor of a large US investment bank. Steen was then, and still is, a brilliant, polemic mind. For 30+ years he has turned intellectual strikes into successful trades. His MO is to shake thinking up and suggest trades that appear ridiculous but then, one day, don’t. Sometimes this is genius, sometimes very expensive. Either way I think you will enjoy his thinking, which we will start to publish regularly – first up, why universal basic income means it is all over for cities.
– Stephen Yorke, Proprietor of the Property Chronicle.

The covid-19 pandemic has only accelerated the K-shaped recovery that was driving inequality and tearing at the social fabric before the outbreak. For years, the younger generation have come to realise that even a solid education and the right attitude are not enough to get moving up the socio-economic ladder in a way that was possible for most of the 20th century. Even if younger professionals do get a job, financialisation of the economy has meant that a single income is not nearly enough to support a family, once insurance, education, and rent or mortgage payments are taken into account.

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