These CEOs Want Basic Income

Ontario Premier Doug Ford was elected earlier this year and already started implementing his plan to increase inequality in the province. Obviously, this is a bad a plan. One of the things Ford cancelled thus far was the basic income pilot program which was praised around the world, and before the study showed results Ford axed. As a response to this stupidity, CEOs have responded by demanding that the basic income pilot continue and that the concept of basic income needs support. The good thing here is that CEOs are openly supporting basic income despite the “pro-business” Ontario government stopping the basic income test.

Here’s part of the open letter from CEOs to Doug Ford:

As Canadian business leaders, we urge the Ontario government to continue the Ontario basic income pilot. We see a guaranteed basic income as a business-friendly approach to address the increasing financial precarity of our citizens and revitalize the economy.

It is urgent that we let this pilot run because we see basic income as part of a solution that could help Canadians stay competitive in the face of:

Accelerating technological job displacement due to advances in automation, software, and AI1
Globalization of jobs which has gone beyond manufacturing and textiles to entry and mid-level information work2
The ongoing transition of work to part time, contract, and gig-work3
Winner takes all markets where companies such as Amazon are absorbing greater shares of economic activity4
These global trends are causing structural changes to the economy that are depressing wages,5 reducing the number of middle class jobs available to Canadians, and affecting a decline in entrepreneurship.6

Read more (and see the citations).

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