With Universal Basic Income, Stockton Reimagines Economic Development
A couple months ago I spent several days in Stockton, a city that may have received more positive press in the last year than it did in the previous several decades. The bulk of that coverage has revolved around the dynamism of Michael Tubbs, Stockton’s 27-year old, Stanford-educated mayor and the novelty of the universal basic income (UBI) demonstration he arranged with $1 million from Facebook cofounder Christopher Hughes.
That demonstration, which will give selected Stocktonites $500 per month for a year, is the first city-supported test of UBI’s ability to mitigate the risk of future joblessness due to automation. If you want to learn more, you can take your pick from many national media outlets including the Atlantic, CNN, and CBS News.