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Basic Income and Minimum Wage

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Tyler Skinner-Rosenberg

The Equal Life Foundation has proposed setting the minimum wage (MW) to two times the basic income (BI).

There has been some focus lately on the efficacy of a 40-hour work week. Technological and efficiency advances as well as population growth with (hopefully) a shift away from a growth-at-all-costs economy has some economists calling for a shorter work week e.g. 20 hours/person/week. This is where the MW = 2x BI problem comes in. Normally we think about BI in monthly terms and MW in hourly amounts. How many hours per week of MW work are we talking about where someone would earn twice the BI?

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