Christopher_Pissarides_sw“There is no guarantee that everyone will benefit if we leave the market alone. In fact we think that not everyone will benefit if we leave the market alone. We need to develop new systems and institutions, new policies that will redistribute inevitably from those that the market will have rewarded in favour of those that the market will have left behind. Now having a universal minimum income is one of those ways and in fact it is one that I am very much in favour of – as long as we know how to apply it without taking away the incentive to work at the labour-market.”

Source: Panel “A World Without Work?” at WEF-Conference, Davos 2016.