“Powerful as well as highly engaging—a brilliant book.”
—Amartya Sen

A Times Higher Education Book of the Week

It may sound crazy to pay people whether or not they’re working or even looking for work. But the idea of providing an unconditional basic income to everyone, rich or poor, active or inactive, has long been advocated by such major thinkers as Thomas Paine, John Stuart Mill, and John Kenneth Galbraith. Now, with the traditional welfare state creaking under pressure, it has become one of the most widely debated social policy proposals in the world. Basic Income presents the most acute and fullest defense of this radical idea, and makes the case that it is our most realistic hope for addressing economic insecurity and social exclusion.

“They have set forth, clearly and comprehensively, what is probably the best case to be made today for this form of economic and social policy.”
—Benjamin M. Friedman, New York Review of Books

“A rigorous analysis of the many arguments for and against a universal basic income, offering a road map for future researchers.”
—Wall Street Journal

“What Van Parijs and Vanderborght bring to this topic is a deep understanding, an enduring passion and a disarming optimism.”
—Steven Pearlstein, Washington Post

Persisting unemployment, poverty and social exclusion, labour market flexibility, job insecurity and higher wage inequality, changing patterns of work and family life are among the factors that exert pressure on welfare states in Europe. This book explores the potential of an unconditional basic income, without means test or work requirement, to meet the challenges posed by the new social question, compared to policies of subsidized insertion in work. It also assesses the political chances of basic income in various European countries. These themes are highly relevant to policy-makers in the field of labour markets and social security, economists, political philosophers, and a social science audience in general.

A sweeping intellectual history of the welfare state’s policy-in-waiting.

The idea of a government paying its citizens to keep them out of poverty—now known as basic income—is hardly new. Often dated as far back as ancient Rome, basic income’s modern conception truly emerged in the late nineteenth century. Yet as one of today’s most controversial proposals, it draws supporters from across the political spectrum.

In this eye-opening work, Anton Jäger and Daniel Zamora Vargas trace basic income from its rise in American and British policy debates following periods of economic tumult to its modern relationship with technopopulist figures in Silicon Valley. They chronicle how the idea first arose in the United States and Europe as a market-friendly alternative to the postwar welfare state and how interest in the policy has grown in the wake of the 2008 credit crisis and COVID-19 crash.

An incisive, comprehensive history, Welfare for Markets tells the story of how a fringe idea conceived in economics seminars went global, revealing the most significant shift in political culture since the end of the Cold War.