Welfare State and Economic Policies

Yanis Varoufakis discusses the concept of Universal Basic Income (UBI) as a solution to the failures of the welfare state, which he describes as a system that humiliates the poor. He suggests that UBI should be funded through taxation but also proposes a Universal Basic Dividend (UBD) funded by returns on socially produced capital. Varoufakis argues for global governance to ensure fair trade practices and suggests that UBD could work well in this context.

What is one of the main criticisms of the current welfare state according to the speaker?

• It is too cheap to maintain.

• It provides equal benefits to everyone.

• It is a system that humiliates the poor.

• It is too generous to the poor.

What is the speaker's view on the source of funding for Universal Basic Income?

• It should be funded through taxation.

• It should come from international aid.

• It should be funded by private donations.

• It should be funded by cutting other social programs.

Why does the speaker believe that funding UBI through taxation could create political issues?

• It would require cutting military spending.

• It would lead to inflation.

• It could cause a clash within the working class.

• It would increase taxes for the wealthy.

What is the Universal Basic Dividend proposal?

• A reduction in corporate taxes to encourage investment.

• A government bond issued to fund UBI.

• A percentage of company shares going into a public trust.

• A tax on luxury goods to fund UBI.

According to the speaker, why should returns to capital be distributed to everyone?

• Because it would increase consumer spending.

• Because it would encourage more investments.

• Because capital is socially produced.

• Because it would reduce government debt.

What is the speaker's view on the privatization of returns to capital?

• It is justified and should continue.

• It should be stopped immediately.

• It should be increased to boost the economy.

• It should be shared as capital is socially produced.

What is the speaker's stance on free trade?

• Free trade should be accompanied by regulations.

• Free trade should only occur within certain regions.

• Free trade should be unrestricted.

• Free trade should be abolished.

How does the speaker suggest NAFTA should be renegotiated?

• By increasing tariffs on Mexican goods.

• By ensuring Mexican workers receive a living wage.

• By excluding certain industries from the agreement.

• By reducing environmental regulations.

What is the relationship between global governance and the Universal Basic Dividend?

• Global governance is unnecessary for the dividend.

• Global governance can help implement the dividend effectively.

• Global governance would hinder the dividend's success.

• Global governance is unrelated to the dividend.

What does the speaker believe is necessary for effective free trade?

• Reducing all tariffs to zero.

• Erecting border fences.

• Implementing regulations to prevent social dumping.

• Stopping imports from certain countries.