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Universal basic income and the end of ‘democratic capitalism’
The idea of UBI is becoming popular on some parts of the left, but SEBASTIAN MULLER believes it would herald the final death-blow to the gains of the post-war era

IN MUCH of the Western world the period immediately following the second world war saw major changes in the nature of capitalist economic management and planning.

In response to the threats of renewed economic depression and of socialism (from both within and without), several of the major capitalist states expanded the role of the state in their national economies. 

From interventionist fiscal and monetary policy to ensure full employment to outright nationalisations, the remit of governments to determine the broad parameters of the national economy expanded significantly.

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