[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:01.61,0:00:05.19,Default,,0000,0000,0000,,I'd like to start with a simple question.
Dialogue: 0,0:00:06.00,0:00:10.12,Default,,0000,0000,0000,,Why do the poor make\Nso many poor decisions?
Dialogue: 0,0:00:11.85,0:00:13.55,Default,,0000,0000,0000,,I know it's a harsh question,
Dialogue: 0,0:00:13.55,0:00:15.24,Default,,0000,0000,0000,,but take a look at the data.
Dialogue: 0,0:00:15.42,0:00:17.37,Default,,0000,0000,0000,,The poor borrow more, save less,
Dialogue: 0,0:00:17.37,0:00:20.15,Default,,0000,0000,0000,,smoke more, exercise less, drink more
Dialogue: 0,0:00:20.15,0:00:21.98,Default,,0000,0000,0000,,and eat less healthfully.
Dialogue: 0,0:00:22.48,0:00:23.64,Default,,0000,0000,0000,,Why?
Dialogue: 0,0:00:24.65,0:00:26.20,Default,,0000,0000,0000,,Well, the standard explanation
Dialogue: 0,0:00:26.20,0:00:29.44,Default,,0000,0000,0000,,was once summed up by the British\NPrime Minister, Margaret Thatcher.
Dialogue: 0,0:00:29.44,0:00:32.82,Default,,0000,0000,0000,,And she called poverty\N"a personality defect."
Dialogue: 0,0:00:33.20,0:00:34.20,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:00:34.71,0:00:36.94,Default,,0000,0000,0000,,A lack of character, basically.
Dialogue: 0,0:00:37.62,0:00:41.90,Default,,0000,0000,0000,,Now, I'm sure not many of you\Nwould be so blunt.
Dialogue: 0,0:00:42.65,0:00:46.52,Default,,0000,0000,0000,,But the idea that there's something\Nwrong with the poor themselves
Dialogue: 0,0:00:46.52,0:00:49.04,Default,,0000,0000,0000,,is not restricted to Mrs. Thatcher.
Dialogue: 0,0:00:49.44,0:00:52.66,Default,,0000,0000,0000,,Some of you may believe that the poor\Nshould be held responsible
Dialogue: 0,0:00:52.66,0:00:54.56,Default,,0000,0000,0000,,for their own mistakes.
Dialogue: 0,0:00:54.56,0:00:58.64,Default,,0000,0000,0000,,And others may argue that we should\Nhelp them to make better decisions.
Dialogue: 0,0:00:59.00,0:01:02.80,Default,,0000,0000,0000,,But the underlying assumption is the same:
Dialogue: 0,0:01:02.80,0:01:05.68,Default,,0000,0000,0000,,there's something wrong with them.
Dialogue: 0,0:01:06.10,0:01:08.09,Default,,0000,0000,0000,,If we could just change them,
Dialogue: 0,0:01:08.09,0:01:10.52,Default,,0000,0000,0000,,if we could just teach them\Nhow to live their lives,
Dialogue: 0,0:01:10.52,0:01:12.41,Default,,0000,0000,0000,,if they would only listen.
Dialogue: 0,0:01:13.26,0:01:14.98,Default,,0000,0000,0000,,And to be honest,
Dialogue: 0,0:01:14.98,0:01:18.69,Default,,0000,0000,0000,,this was what I thought for a long time.
Dialogue: 0,0:01:19.10,0:01:21.24,Default,,0000,0000,0000,,It was only a few years ago\Nthat I discovered
Dialogue: 0,0:01:21.24,0:01:25.25,Default,,0000,0000,0000,,that everything I thought I knew\Nabout poverty was wrong.
Dialogue: 0,0:01:26.42,0:01:29.06,Default,,0000,0000,0000,,It all started when I accidentally\Nstumbled upon a paper
Dialogue: 0,0:01:29.06,0:01:30.79,Default,,0000,0000,0000,,by a few American psychologists.
Dialogue: 0,0:01:30.79,0:01:32.23,Default,,0000,0000,0000,,They had traveled 8,000 miles,
Dialogue: 0,0:01:32.23,0:01:33.37,Default,,0000,0000,0000,,all the way to India,
Dialogue: 0,0:01:33.37,0:01:35.22,Default,,0000,0000,0000,,for a fascinating study.
Dialogue: 0,0:01:35.22,0:01:38.45,Default,,0000,0000,0000,,And it was an experiment\Nwith sugar cane farmers.
Dialogue: 0,0:01:38.85,0:01:42.41,Default,,0000,0000,0000,,You should know that these farmers\Ncollect about 60 percent
Dialogue: 0,0:01:42.41,0:01:44.57,Default,,0000,0000,0000,,of their annual income all at once --
Dialogue: 0,0:01:44.57,0:01:46.30,Default,,0000,0000,0000,,right after the harvest.
Dialogue: 0,0:01:46.30,0:01:49.86,Default,,0000,0000,0000,,This means that they're relatively\Npoor one part of the year
Dialogue: 0,0:01:49.86,0:01:51.84,Default,,0000,0000,0000,,and rich the other.
Dialogue: 0,0:01:52.76,0:01:57.07,Default,,0000,0000,0000,,The researchers asked them to do\Nan IQ test before and after the harvest.
Dialogue: 0,0:01:58.10,0:02:02.78,Default,,0000,0000,0000,,What they subsequently discovered\Ncompletely blew my mind.
Dialogue: 0,0:02:03.36,0:02:07.97,Default,,0000,0000,0000,,The farmers scored much worse\Non the test before the harvest.
Dialogue: 0,0:02:08.46,0:02:10.02,Default,,0000,0000,0000,,The effects of living in poverty,
Dialogue: 0,0:02:10.02,0:02:11.02,Default,,0000,0000,0000,,it turns out,
Dialogue: 0,0:02:11.02,0:02:14.37,Default,,0000,0000,0000,,correspond to losing 40 points of IQ.
Dialogue: 0,0:02:14.37,0:02:16.27,Default,,0000,0000,0000,,Now, to give you an idea,
Dialogue: 0,0:02:16.27,0:02:18.79,Default,,0000,0000,0000,,that's comparable\Nto losing a night's sleep,
Dialogue: 0,0:02:18.79,0:02:21.57,Default,,0000,0000,0000,,or the effects of alcoholism.
Dialogue: 0,0:02:22.74,0:02:23.85,Default,,0000,0000,0000,,A few months later,
Dialogue: 0,0:02:23.85,0:02:25.29,Default,,0000,0000,0000,,I heard that Eldar Shafir,
Dialogue: 0,0:02:25.29,0:02:28.72,Default,,0000,0000,0000,,a professor at Princeton University\Nand one of the authors of this study,
Dialogue: 0,0:02:28.72,0:02:30.07,Default,,0000,0000,0000,,was coming over to Holland,
Dialogue: 0,0:02:30.07,0:02:31.22,Default,,0000,0000,0000,,where I live.
Dialogue: 0,0:02:31.22,0:02:32.51,Default,,0000,0000,0000,,So we met up in Amersterdam
Dialogue: 0,0:02:32.51,0:02:36.41,Default,,0000,0000,0000,,to talk about his revolutionary\Nnew theory of poverty.
Dialogue: 0,0:02:36.59,0:02:39.62,Default,,0000,0000,0000,,And I can sum it up in just two words:
Dialogue: 0,0:02:39.62,0:02:41.98,Default,,0000,0000,0000,,scarcity mentality.
Dialogue: 0,0:02:42.64,0:02:45.02,Default,,0000,0000,0000,,It turns out that people\Nbehave differently
Dialogue: 0,0:02:45.02,0:02:47.22,Default,,0000,0000,0000,,when they perceive a thing to be scarce.
Dialogue: 0,0:02:47.54,0:02:49.77,Default,,0000,0000,0000,,And what that thing is\Ndoesn't much matter --
Dialogue: 0,0:02:49.77,0:02:52.79,Default,,0000,0000,0000,,whether it's not enough time,\Nmoney or food.
Dialogue: 0,0:02:53.28,0:02:55.04,Default,,0000,0000,0000,,You all know this feeling
Dialogue: 0,0:02:55.04,0:02:57.08,Default,,0000,0000,0000,,when you've got too much to do,
Dialogue: 0,0:02:57.08,0:03:00.65,Default,,0000,0000,0000,,or when you've put off breaking for lunch\Nand your blood sugar takes a dive.
Dialogue: 0,0:03:00.65,0:03:03.53,Default,,0000,0000,0000,,This narrows your focus\Nto your immediate lack --
Dialogue: 0,0:03:03.53,0:03:05.56,Default,,0000,0000,0000,,to the sandwich you've got to have now,
Dialogue: 0,0:03:05.56,0:03:07.85,Default,,0000,0000,0000,,the meeting that's starting\Nin five minutes,
Dialogue: 0,0:03:07.85,0:03:10.98,Default,,0000,0000,0000,,or the bills that have\Nto be paid tomorrow.
Dialogue: 0,0:03:11.12,0:03:14.95,Default,,0000,0000,0000,,So the long-term perspective\Ngoes out the window.
Dialogue: 0,0:03:15.90,0:03:20.75,Default,,0000,0000,0000,,You could compare it to a new computer\Nthat's running 10 heavy programs at once.
Dialogue: 0,0:03:21.27,0:03:23.18,Default,,0000,0000,0000,,It gets slower and slower,
Dialogue: 0,0:03:23.18,0:03:24.20,Default,,0000,0000,0000,,making errors.
Dialogue: 0,0:03:24.20,0:03:26.04,Default,,0000,0000,0000,,Eventually it freezes
Dialogue: 0,0:03:26.04,0:03:28.17,Default,,0000,0000,0000,,not because it's a bad computer,
Dialogue: 0,0:03:28.17,0:03:31.07,Default,,0000,0000,0000,,but because it has too much to do at once.
Dialogue: 0,0:03:31.52,0:03:35.04,Default,,0000,0000,0000,,The poor have the same problem.
Dialogue: 0,0:03:35.04,0:03:37.85,Default,,0000,0000,0000,,They're not making dumb decisions\Nbecause they are dumb,
Dialogue: 0,0:03:37.85,0:03:42.26,Default,,0000,0000,0000,,but because they're living in a context\Nin which anyone would make dumb decisions.
Dialogue: 0,0:03:42.59,0:03:45.71,Default,,0000,0000,0000,,So suddenly I understood
Dialogue: 0,0:03:45.71,0:03:49.80,Default,,0000,0000,0000,,why so many of our anti-poverty\Nprograms don't work.
Dialogue: 0,0:03:50.75,0:03:52.94,Default,,0000,0000,0000,,Investments in education for example
Dialogue: 0,0:03:52.94,0:03:55.48,Default,,0000,0000,0000,,are often completely ineffective.
Dialogue: 0,0:03:55.48,0:03:58.43,Default,,0000,0000,0000,,Poverty is not a lack of knowledge.
Dialogue: 0,0:03:58.89,0:04:01.54,Default,,0000,0000,0000,,A recent analysis of 201 studies
Dialogue: 0,0:04:01.54,0:04:03.88,Default,,0000,0000,0000,,on the effectiveness\Nof money management training
Dialogue: 0,0:04:03.88,0:04:07.65,Default,,0000,0000,0000,,came to the conclusion that is has\Nalmost know effect at all.
Dialogue: 0,0:04:07.65,0:04:09.12,Default,,0000,0000,0000,,Don't get me wrong.
Dialogue: 0,0:04:09.12,0:04:11.74,Default,,0000,0000,0000,,This is not to say that the poor\Ndon't learn anything --
Dialogue: 0,0:04:11.74,0:04:14.36,Default,,0000,0000,0000,,they can come out wiser for sure,
Dialogue: 0,0:04:14.36,0:04:15.87,Default,,0000,0000,0000,,but it's not enough.
Dialogue: 0,0:04:15.87,0:04:18.90,Default,,0000,0000,0000,,Or as Professor Shafir told me,
Dialogue: 0,0:04:18.90,0:04:21.03,Default,,0000,0000,0000,,"It's like teaching someone to swim
Dialogue: 0,0:04:21.03,0:04:24.32,Default,,0000,0000,0000,,and then throwing them in a stormy sea."
Dialogue: 0,0:04:24.89,0:04:27.40,Default,,0000,0000,0000,,I still remember sitting there,
Dialogue: 0,0:04:27.40,0:04:29.10,Default,,0000,0000,0000,,perplexed.
Dialogue: 0,0:04:29.30,0:04:32.60,Default,,0000,0000,0000,,And it struck me that we could\Nhave figured this all out decades ago.
Dialogue: 0,0:04:32.60,0:04:36.06,Default,,0000,0000,0000,,I mean these psychologists\Ndidn't need any complicated brain scans;
Dialogue: 0,0:04:36.06,0:04:38.01,Default,,0000,0000,0000,,they only had to measure the farmers' IQ,
Dialogue: 0,0:04:38.01,0:04:41.12,Default,,0000,0000,0000,,and IQ tests were invented\Nmore that 100 years ago.
Dialogue: 0,0:04:41.35,0:04:45.40,Default,,0000,0000,0000,,Actually, I realized I had read about\Nthe psychology of poverty before.
Dialogue: 0,0:04:45.66,0:04:47.24,Default,,0000,0000,0000,,George Orwell,
Dialogue: 0,0:04:47.24,0:04:49.52,Default,,0000,0000,0000,,one of the greatest writers\Nwho ever lived,
Dialogue: 0,0:04:49.52,0:04:52.42,Default,,0000,0000,0000,,experienced poverty firsthand\Nin the 1920s.
Dialogue: 0,0:04:52.92,0:04:54.29,Default,,0000,0000,0000,,"The essence of poverty,"
Dialogue: 0,0:04:54.29,0:04:55.30,Default,,0000,0000,0000,,he wrote back then,
Dialogue: 0,0:04:55.30,0:04:58.81,Default,,0000,0000,0000,,is that it "annihilates the future."
Dialogue: 0,0:04:59.35,0:05:02.13,Default,,0000,0000,0000,,And he marveled at quote,
Dialogue: 0,0:05:02.13,0:05:03.61,Default,,0000,0000,0000,,"How people take it for granted
Dialogue: 0,0:05:03.61,0:05:05.33,Default,,0000,0000,0000,,they have the right to preach at you
Dialogue: 0,0:05:05.33,0:05:06.33,Default,,0000,0000,0000,,and pray over you
Dialogue: 0,0:05:06.33,0:05:08.83,Default,,0000,0000,0000,,as soon as your income falls\Nbelow a certain level."
Dialogue: 0,0:05:08.83,0:05:13.15,Default,,0000,0000,0000,,Now, those words are every bit\Nas resonant today.
Dialogue: 0,0:05:15.22,0:05:17.25,Default,,0000,0000,0000,,The big question is of course,
Dialogue: 0,0:05:17.25,0:05:18.71,Default,,0000,0000,0000,,what can be done?
Dialogue: 0,0:05:18.71,0:05:21.53,Default,,0000,0000,0000,,Modern economists have a few\Nsolutions up their sleeves.
Dialogue: 0,0:05:21.53,0:05:23.62,Default,,0000,0000,0000,,We could help the poor\Nwith their paperwork,
Dialogue: 0,0:05:23.62,0:05:26.55,Default,,0000,0000,0000,,or send them a text message\Nto remind them to pay their bills.
Dialogue: 0,0:05:26.55,0:05:30.71,Default,,0000,0000,0000,,This type of solution is hugely\Npopular with modern politicians.
Dialogue: 0,0:05:31.35,0:05:33.08,Default,,0000,0000,0000,,Mostly because,
Dialogue: 0,0:05:33.08,0:05:34.08,Default,,0000,0000,0000,,well,
Dialogue: 0,0:05:34.08,0:05:35.79,Default,,0000,0000,0000,,they cost next to nothing.
Dialogue: 0,0:05:36.26,0:05:37.72,Default,,0000,0000,0000,,These solutions are,
Dialogue: 0,0:05:37.72,0:05:38.75,Default,,0000,0000,0000,,I think,
Dialogue: 0,0:05:38.75,0:05:40.44,Default,,0000,0000,0000,,a symbol of this era
Dialogue: 0,0:05:40.44,0:05:42.64,Default,,0000,0000,0000,,in which we so often treat the symptoms,
Dialogue: 0,0:05:42.64,0:05:44.93,Default,,0000,0000,0000,,but ignore the underlying cause.
Dialogue: 0,0:05:45.65,0:05:48.08,Default,,0000,0000,0000,,So I wonder,
Dialogue: 0,0:05:48.08,0:05:51.85,Default,,0000,0000,0000,,why don't we just change the context\Nin which the poor live?
Dialogue: 0,0:05:51.85,0:05:54.16,Default,,0000,0000,0000,,Or, going back to our computer analogy,
Dialogue: 0,0:05:54.16,0:05:56.29,Default,,0000,0000,0000,,why keep tinkering around\Nwith the software
Dialogue: 0,0:05:56.29,0:06:00.12,Default,,0000,0000,0000,,when we can easily solve the problem\Nby installing some extra memory instead?
Dialogue: 0,0:06:00.38,0:06:01.38,Default,,0000,0000,0000,,At that point,
Dialogue: 0,0:06:01.38,0:06:04.11,Default,,0000,0000,0000,,Professor Shafir responded\Nwith a blank look.
Dialogue: 0,0:06:04.41,0:06:05.60,Default,,0000,0000,0000,,And after a few seconds,
Dialogue: 0,0:06:05.60,0:06:07.12,Default,,0000,0000,0000,,he said,
Dialogue: 0,0:06:07.12,0:06:09.97,Default,,0000,0000,0000,,"Oh, I get it,
Dialogue: 0,0:06:09.97,0:06:14.40,Default,,0000,0000,0000,,you mean you want to just\Nhand out more money to the poor
Dialogue: 0,0:06:14.40,0:06:16.27,Default,,0000,0000,0000,,to eradicate poverty.
Dialogue: 0,0:06:16.27,0:06:19.99,Default,,0000,0000,0000,,Uh, sure, that'd be great ...
Dialogue: 0,0:06:19.99,0:06:22.41,Default,,0000,0000,0000,,but I'm afraid that brand\Nof left-wing politics
Dialogue: 0,0:06:22.41,0:06:24.31,Default,,0000,0000,0000,,you've got in Amsterdam ...
Dialogue: 0,0:06:24.31,0:06:26.45,Default,,0000,0000,0000,,it doesn't exist in the States."
Dialogue: 0,0:06:26.71,0:06:31.07,Default,,0000,0000,0000,,But is this really\Nan old-fashioned, leftist idea?
Dialogue: 0,0:06:31.41,0:06:33.22,Default,,0000,0000,0000,,I remembered reading about old plan --
Dialogue: 0,0:06:33.22,0:06:36.75,Default,,0000,0000,0000,,something that has been proposed\Nby some of history's leading thinkers.
Dialogue: 0,0:06:37.11,0:06:40.95,Default,,0000,0000,0000,,The philosopher Thomas More\Nfirst hinted at it in his book, "Utopia,"
Dialogue: 0,0:06:40.95,0:06:43.03,Default,,0000,0000,0000,,more than 500 years ago.
Dialogue: 0,0:06:43.40,0:06:46.98,Default,,0000,0000,0000,,And its proponents have spanned\Nthe spectrum from the left to the right,
Dialogue: 0,0:06:46.98,0:06:49.77,Default,,0000,0000,0000,,from the civil rights campaigner\NMartin Luther King,
Dialogue: 0,0:06:49.77,0:06:52.75,Default,,0000,0000,0000,,to the economist Milton Friedman.
Dialogue: 0,0:06:53.47,0:06:56.46,Default,,0000,0000,0000,,And it's an incredibly simple idea.
Dialogue: 0,0:06:57.23,0:07:00.56,Default,,0000,0000,0000,,Basic income guarantee.
Dialogue: 0,0:07:01.43,0:07:02.86,Default,,0000,0000,0000,,What it is?
Dialogue: 0,0:07:03.10,0:07:04.53,Default,,0000,0000,0000,,Well, that's easy.
Dialogue: 0,0:07:04.84,0:07:05.87,Default,,0000,0000,0000,,It's a monthly grant,
Dialogue: 0,0:07:05.87,0:07:07.55,Default,,0000,0000,0000,,enough to pay for your basic needs:
Dialogue: 0,0:07:07.55,0:07:09.43,Default,,0000,0000,0000,,food, shelter, education.
Dialogue: 0,0:07:09.78,0:07:11.73,Default,,0000,0000,0000,,It's completely unconditional,
Dialogue: 0,0:07:11.73,0:07:14.40,Default,,0000,0000,0000,,so no one's going to tell you\Nwhat you have to do for it,
Dialogue: 0,0:07:14.40,0:07:17.17,Default,,0000,0000,0000,,and no one's going to tell you\Nwhat you have to do with it.
Dialogue: 0,0:07:17.17,0:07:18.77,Default,,0000,0000,0000,,The basic income is not a favor,
Dialogue: 0,0:07:18.77,0:07:19.80,Default,,0000,0000,0000,,but a right.
Dialogue: 0,0:07:19.80,0:07:21.93,Default,,0000,0000,0000,,There's absolutely no stigma attached.
Dialogue: 0,0:07:22.44,0:07:25.23,Default,,0000,0000,0000,,So as I learned about the true\Nnature of poverty,
Dialogue: 0,0:07:25.23,0:07:27.31,Default,,0000,0000,0000,,I couldn't stop wondering ...
Dialogue: 0,0:07:27.31,0:07:30.43,Default,,0000,0000,0000,,is this the idea\Nwe've all been waiting for?
Dialogue: 0,0:07:30.78,0:07:33.46,Default,,0000,0000,0000,,Could it really be that simple?
Dialogue: 0,0:07:34.35,0:07:36.12,Default,,0000,0000,0000,,And in the three years that followed,
Dialogue: 0,0:07:36.12,0:07:38.79,Default,,0000,0000,0000,,I read everything I could find\Nabout basic income.
Dialogue: 0,0:07:38.79,0:07:40.66,Default,,0000,0000,0000,,I researched the dozens of experiments
Dialogue: 0,0:07:40.66,0:07:42.74,Default,,0000,0000,0000,,that have been conducted\Nall over the globe,
Dialogue: 0,0:07:42.74,0:07:43.86,Default,,0000,0000,0000,,and it didn't take long
Dialogue: 0,0:07:43.86,0:07:46.68,Default,,0000,0000,0000,,before I stumbled upon a story\Nof a town that had done it --
Dialogue: 0,0:07:46.68,0:07:48.34,Default,,0000,0000,0000,,had actually eradicated poverty --
Dialogue: 0,0:07:48.34,0:07:50.70,Default,,0000,0000,0000,,but then ...
Dialogue: 0,0:07:50.70,0:07:52.69,Default,,0000,0000,0000,,nearly everyone forgot about it.
Dialogue: 0,0:07:53.67,0:07:56.68,Default,,0000,0000,0000,,This story starts in Dauphin, Canada.
Dialogue: 0,0:07:57.06,0:08:02.69,Default,,0000,0000,0000,,In 1974, everybody in this small town\Nwas guaranteed a basic income,
Dialogue: 0,0:08:02.69,0:08:05.59,Default,,0000,0000,0000,,ensuring that no one fell\Nbelow the poverty line.
Dialogue: 0,0:08:05.59,0:08:07.12,Default,,0000,0000,0000,,And at the start of the experiment,
Dialogue: 0,0:08:07.12,0:08:10.94,Default,,0000,0000,0000,,an army of researchers\Ndescended on the town.
Dialogue: 0,0:08:11.34,0:08:13.88,Default,,0000,0000,0000,,For four years all went well.
Dialogue: 0,0:08:14.56,0:08:18.17,Default,,0000,0000,0000,,But then a new government\Nwas voted into power,
Dialogue: 0,0:08:18.17,0:08:21.70,Default,,0000,0000,0000,,and the new Canadian cabinet saw\Nlittle point to the expensive experiment.
Dialogue: 0,0:08:21.70,0:08:25.98,Default,,0000,0000,0000,,So when it became clear there was\Nno money left to analyze the results,
Dialogue: 0,0:08:25.98,0:08:31.14,Default,,0000,0000,0000,,the researchers decided to pack\Ntheir files away in some 2,000 boxes.
Dialogue: 0,0:08:32.18,0:08:35.19,Default,,0000,0000,0000,,25 years went by,
Dialogue: 0,0:08:35.19,0:08:36.65,Default,,0000,0000,0000,,and then Evelyn Forget,
Dialogue: 0,0:08:36.65,0:08:37.90,Default,,0000,0000,0000,,a Canadian professor,
Dialogue: 0,0:08:37.90,0:08:39.14,Default,,0000,0000,0000,,found the records.
Dialogue: 0,0:08:39.14,0:08:43.13,Default,,0000,0000,0000,,And for three years she subjected the data\Nto all manner of statistical analysis,
Dialogue: 0,0:08:43.13,0:08:44.74,Default,,0000,0000,0000,,and no matter what she tried,
Dialogue: 0,0:08:44.74,0:08:47.48,Default,,0000,0000,0000,,the results were the same every time.
Dialogue: 0,0:08:48.01,0:08:52.40,Default,,0000,0000,0000,,The experiment had been\Na resounding success.
Dialogue: 0,0:08:53.35,0:08:54.52,Default,,0000,0000,0000,,Evelyn Forget discovered
Dialogue: 0,0:08:54.52,0:08:57.08,Default,,0000,0000,0000,,that the people in Dauphin\Nhad not only become richer,
Dialogue: 0,0:08:57.08,0:08:58.64,Default,,0000,0000,0000,,but also smarter and healthier.
Dialogue: 0,0:08:58.64,0:09:02.50,Default,,0000,0000,0000,,The school performance of kids\Nimproved substantially.
Dialogue: 0,0:09:03.17,0:09:07.58,Default,,0000,0000,0000,,The hospitalization rate decreased\Nby as much as 8.5 percent.
Dialogue: 0,0:09:08.33,0:09:10.16,Default,,0000,0000,0000,,Domestic violence incidents were down,
Dialogue: 0,0:09:10.16,0:09:11.95,Default,,0000,0000,0000,,as were mental health complaints.
Dialogue: 0,0:09:12.35,0:09:14.41,Default,,0000,0000,0000,,And people didn't quit their jobs.
Dialogue: 0,0:09:14.71,0:09:18.47,Default,,0000,0000,0000,,The only ones who worked a little less\Nwere new mothers and students --
Dialogue: 0,0:09:18.47,0:09:20.39,Default,,0000,0000,0000,,who stayed in school longer.
Dialogue: 0,0:09:21.09,0:09:22.90,Default,,0000,0000,0000,,Similar results have since been found
Dialogue: 0,0:09:22.90,0:09:25.41,Default,,0000,0000,0000,,in countless other experiments\Naround the globe,
Dialogue: 0,0:09:25.41,0:09:28.38,Default,,0000,0000,0000,,from the US to India.
Dialogue: 0,0:09:29.45,0:09:31.70,Default,,0000,0000,0000,,So ...
Dialogue: 0,0:09:31.70,0:09:33.54,Default,,0000,0000,0000,,here's what I've learned.
Dialogue: 0,0:09:34.20,0:09:36.38,Default,,0000,0000,0000,,When it comes to poverty,
Dialogue: 0,0:09:36.38,0:09:41.64,Default,,0000,0000,0000,,we the rich should stop\Npretending we know best.
Dialogue: 0,0:09:42.29,0:09:45.00,Default,,0000,0000,0000,,We should stop sending\Nshoes and teddy bears to the poor,
Dialogue: 0,0:09:45.00,0:09:46.73,Default,,0000,0000,0000,,to people we have never met.
Dialogue: 0,0:09:46.73,0:09:50.21,Default,,0000,0000,0000,,And we should get rid of the vast\Nindustry of paternalistic bureaucrats
Dialogue: 0,0:09:50.21,0:09:52.31,Default,,0000,0000,0000,,when we could simply\Nhand over their salaries
Dialogue: 0,0:09:52.31,0:09:54.09,Default,,0000,0000,0000,,to the poor they're supposed to help.
Dialogue: 0,0:09:54.09,0:09:56.34,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,0:09:56.34,0:09:59.52,Default,,0000,0000,0000,,Because, I mean, the great\Nthing about money
Dialogue: 0,0:09:59.52,0:10:01.87,Default,,0000,0000,0000,,is that people can use it\Nto buy things they need
Dialogue: 0,0:10:01.87,0:10:05.23,Default,,0000,0000,0000,,instead of things that self-appointed\Nexperts think they need.
Dialogue: 0,0:10:06.04,0:10:10.30,Default,,0000,0000,0000,,Just imagine how many brilliant scientists\Nand entrepreneurs and writers,
Dialogue: 0,0:10:10.30,0:10:11.31,Default,,0000,0000,0000,,like George Orwell,
Dialogue: 0,0:10:11.31,0:10:14.03,Default,,0000,0000,0000,,are now withering away in scarcity.
Dialogue: 0,0:10:14.30,0:10:16.67,Default,,0000,0000,0000,,Imagine how much energy\Nand talent we would unleash
Dialogue: 0,0:10:16.67,0:10:19.57,Default,,0000,0000,0000,,if we got rid of poverty once and for all.
Dialogue: 0,0:10:19.57,0:10:24.09,Default,,0000,0000,0000,,I believe that a basic income would\Nwork like venture capital for the people.
Dialogue: 0,0:10:25.08,0:10:27.36,Default,,0000,0000,0000,,And we can't afford not to do it,
Dialogue: 0,0:10:27.36,0:10:30.21,Default,,0000,0000,0000,,because poverty is hugely expensive.
Dialogue: 0,0:10:30.64,0:10:34.03,Default,,0000,0000,0000,,Just look at the cost of child poverty\Nin the US for example.
Dialogue: 0,0:10:34.03,0:10:38.29,Default,,0000,0000,0000,,It's estimated at 500\Nbillion dollars each year,
Dialogue: 0,0:10:38.29,0:10:40.21,Default,,0000,0000,0000,,in terms of higher health care spending,
Dialogue: 0,0:10:40.21,0:10:41.24,Default,,0000,0000,0000,,higher dropout rates,
Dialogue: 0,0:10:41.24,0:10:42.54,Default,,0000,0000,0000,,and more crime.
Dialogue: 0,0:10:42.80,0:10:46.90,Default,,0000,0000,0000,,Now this is an incredible waste\Nof human potential.
Dialogue: 0,0:10:48.39,0:10:51.01,Default,,0000,0000,0000,,But let's talk about\Nthe elephant in the room.
Dialogue: 0,0:10:51.53,0:10:54.79,Default,,0000,0000,0000,,How could we ever afford\Na basic income guarantee?
Dialogue: 0,0:10:55.13,0:10:58.23,Default,,0000,0000,0000,,Well, it's actually a lot cheaper\Nthan you may think.
Dialogue: 0,0:10:58.38,0:11:01.85,Default,,0000,0000,0000,,What they did in Dauphin is they\Nfinanced it with a negative income tax.
Dialogue: 0,0:11:01.85,0:11:03.86,Default,,0000,0000,0000,,This means that your income\Nis [stacked up]
Dialogue: 0,0:11:03.86,0:11:06.23,Default,,0000,0000,0000,,as soon as you fall\Nbelow the poverty line.
Dialogue: 0,0:11:06.23,0:11:07.82,Default,,0000,0000,0000,,And in that scenario,
Dialogue: 0,0:11:07.82,0:11:10.36,Default,,0000,0000,0000,,according to our economists'\Nbest estimates,
Dialogue: 0,0:11:10.36,0:11:13.40,Default,,0000,0000,0000,,for a net cost of 175 billion --
Dialogue: 0,0:11:13.40,0:11:15.92,Default,,0000,0000,0000,,a quarter of US military spending,
Dialogue: 0,0:11:15.92,0:11:18.39,Default,,0000,0000,0000,,one percent of GDP --
Dialogue: 0,0:11:18.39,0:11:22.42,Default,,0000,0000,0000,,you could lift all impoverished Americans\Nabove the poverty line.
Dialogue: 0,0:11:22.66,0:11:25.80,Default,,0000,0000,0000,,You could actually eradicate poverty.
Dialogue: 0,0:11:26.34,0:11:28.51,Default,,0000,0000,0000,,Now that should be our goal.
Dialogue: 0,0:11:28.98,0:11:32.56,Default,,0000,0000,0000,,The time for small thoughts\Nand little nudges is past.
Dialogue: 0,0:11:32.98,0:11:36.31,Default,,0000,0000,0000,,I really believe that the time has come\Nfor radical new ideas,
Dialogue: 0,0:11:36.31,0:11:39.39,Default,,0000,0000,0000,,and basic income is so much more\Nthan just another policy.
Dialogue: 0,0:11:39.39,0:11:43.89,Default,,0000,0000,0000,,It is also a complete rethink\Nof what work actually is.
Dialogue: 0,0:11:44.05,0:11:45.81,Default,,0000,0000,0000,,And in that sense,
Dialogue: 0,0:11:45.81,0:11:48.73,Default,,0000,0000,0000,,it will not only free the poor ...
Dialogue: 0,0:11:48.73,0:11:50.49,Default,,0000,0000,0000,,but also the rest of us.
Dialogue: 0,0:11:51.29,0:11:53.56,Default,,0000,0000,0000,,Nowadays, millions of people feel
Dialogue: 0,0:11:53.56,0:11:56.01,Default,,0000,0000,0000,,that their jobs have little\Nmeaning or significance.
Dialogue: 0,0:11:56.01,0:11:59.10,Default,,0000,0000,0000,,A recent poll among 230,000 employees,
Dialogue: 0,0:11:59.10,0:12:01.03,Default,,0000,0000,0000,,in 142 countries,
Dialogue: 0,0:12:01.03,0:12:05.97,Default,,0000,0000,0000,,found that only 30 percent of workers\Nactually like their job.
Dialogue: 0,0:12:06.67,0:12:10.49,Default,,0000,0000,0000,,And another poll found that as much\Nas 37 percent of British workers
Dialogue: 0,0:12:10.49,0:12:13.66,Default,,0000,0000,0000,,have a job that they think\Ndoesn't even need to exist.
Dialogue: 0,0:12:14.39,0:12:16.90,Default,,0000,0000,0000,,It's like Brad Pitt says in "Fight Club,"
Dialogue: 0,0:12:16.90,0:12:20.58,Default,,0000,0000,0000,,"Too often we're working jobs we hate\Nso we can buy shit we don't need."
Dialogue: 0,0:12:20.58,0:12:21.58,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:12:21.88,0:12:23.42,Default,,0000,0000,0000,,Now don't get me wrong --
Dialogue: 0,0:12:23.42,0:12:25.92,Default,,0000,0000,0000,,I'm not talking about the teachers\Nand the garbagemen
Dialogue: 0,0:12:25.92,0:12:27.59,Default,,0000,0000,0000,,and the care workers here.
Dialogue: 0,0:12:27.59,0:12:29.20,Default,,0000,0000,0000,,If they stopped working,
Dialogue: 0,0:12:29.20,0:12:30.85,Default,,0000,0000,0000,,we'd be in trouble.
Dialogue: 0,0:12:31.22,0:12:34.69,Default,,0000,0000,0000,,I'm talking about all those well-paid\Nprofessionals with excellent resumes
Dialogue: 0,0:12:34.69,0:12:36.67,Default,,0000,0000,0000,,who earn their money doing ...
Dialogue: 0,0:12:36.67,0:12:38.66,Default,,0000,0000,0000,,strategic transactor peer-to-peer meetings
Dialogue: 0,0:12:38.66,0:12:41.64,Default,,0000,0000,0000,,while brainstorming the value add\Non all disruptive co-creation
Dialogue: 0,0:12:41.64,0:12:42.73,Default,,0000,0000,0000,,in the network society.
Dialogue: 0,0:12:42.73,0:12:43.73,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:12:43.73,0:12:44.73,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,0:12:44.73,0:12:46.30,Default,,0000,0000,0000,,Or something like that.
Dialogue: 0,0:12:46.30,0:12:49.17,Default,,0000,0000,0000,,Just imagine again how much\Ntalent we're wasting
Dialogue: 0,0:12:49.17,0:12:53.48,Default,,0000,0000,0000,,simply because we tell our kids\Nthey'll have to "earn a living."
Dialogue: 0,0:12:53.72,0:12:56.40,Default,,0000,0000,0000,,Or think of what a math whiz\Nworking at Facebook lamented
Dialogue: 0,0:12:56.40,0:12:57.58,Default,,0000,0000,0000,,a few years ago:
Dialogue: 0,0:12:57.58,0:12:59.55,Default,,0000,0000,0000,,"The best minds of my generation
Dialogue: 0,0:12:59.55,0:13:03.12,Default,,0000,0000,0000,,are thinking about how\Nto make people click ads."
Dialogue: 0,0:13:04.57,0:13:06.55,Default,,0000,0000,0000,,I'm an historian.
Dialogue: 0,0:13:07.07,0:13:09.28,Default,,0000,0000,0000,,And if history teaches us anything,
Dialogue: 0,0:13:09.28,0:13:11.88,Default,,0000,0000,0000,,it is that things could be different.
Dialogue: 0,0:13:12.10,0:13:13.41,Default,,0000,0000,0000,,There is nothing inevitable
Dialogue: 0,0:13:13.41,0:13:16.35,Default,,0000,0000,0000,,about the way we structured our society\Nand economy right now.
Dialogue: 0,0:13:16.35,0:13:18.62,Default,,0000,0000,0000,,Ideas can and do change the world.
Dialogue: 0,0:13:18.88,0:13:21.41,Default,,0000,0000,0000,,And I think that especially\Nin the past few years,
Dialogue: 0,0:13:21.41,0:13:22.85,Default,,0000,0000,0000,,it has become abundantly clear
Dialogue: 0,0:13:22.85,0:13:24.82,Default,,0000,0000,0000,,that we cannot stick to the status quo --
Dialogue: 0,0:13:24.82,0:13:27.00,Default,,0000,0000,0000,,that we need new ideas.
Dialogue: 0,0:13:28.60,0:13:31.94,Default,,0000,0000,0000,,I know that many of you\Nmay feel pessimistic
Dialogue: 0,0:13:31.94,0:13:34.02,Default,,0000,0000,0000,,about a future of rising inequality,
Dialogue: 0,0:13:34.02,0:13:35.31,Default,,0000,0000,0000,,xenophobia
Dialogue: 0,0:13:35.31,0:13:36.69,Default,,0000,0000,0000,,and climate change.
Dialogue: 0,0:13:37.09,0:13:39.31,Default,,0000,0000,0000,,But it's not enough\Nto know what we're against.
Dialogue: 0,0:13:39.31,0:13:40.81,Default,,0000,0000,0000,,We also need be for something.
Dialogue: 0,0:13:40.81,0:13:43.63,Default,,0000,0000,0000,,Martin Luther King didn't say,\N"I have a nightmare."
Dialogue: 0,0:13:43.63,0:13:44.87,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:13:45.34,0:13:46.64,Default,,0000,0000,0000,,He had a dream.
Dialogue: 0,0:13:46.64,0:13:47.74,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,0:13:47.74,0:13:50.14,Default,,0000,0000,0000,,So ...
Dialogue: 0,0:13:50.14,0:13:51.67,Default,,0000,0000,0000,,here's my dream.
Dialogue: 0,0:13:52.30,0:13:54.16,Default,,0000,0000,0000,,I believe in a future
Dialogue: 0,0:13:54.16,0:13:58.06,Default,,0000,0000,0000,,where the value of your work is not\Ndetermined by the size of your paycheck,
Dialogue: 0,0:13:58.06,0:14:00.05,Default,,0000,0000,0000,,but by the amount of happiness you spread
Dialogue: 0,0:14:00.05,0:14:02.11,Default,,0000,0000,0000,,and the amount of meaning you give.
Dialogue: 0,0:14:02.11,0:14:03.36,Default,,0000,0000,0000,,I believe in a future
Dialogue: 0,0:14:03.36,0:14:04.69,Default,,0000,0000,0000,,where the point of education
Dialogue: 0,0:14:04.69,0:14:06.87,Default,,0000,0000,0000,,is not to prepare you\Nfor another useless job,
Dialogue: 0,0:14:06.87,0:14:09.04,Default,,0000,0000,0000,,but for a life well-lived.
Dialogue: 0,0:14:09.21,0:14:10.71,Default,,0000,0000,0000,,I believe in a future
Dialogue: 0,0:14:10.71,0:14:13.91,Default,,0000,0000,0000,,where an existence\Nwithout poverty is not a privilege
Dialogue: 0,0:14:13.91,0:14:15.72,Default,,0000,0000,0000,,but a right we all deserve.
Dialogue: 0,0:14:15.86,0:14:17.09,Default,,0000,0000,0000,,So here we are.
Dialogue: 0,0:14:17.30,0:14:18.30,Default,,0000,0000,0000,,Here we are.
Dialogue: 0,0:14:18.30,0:14:19.39,Default,,0000,0000,0000,,We've got the research,
Dialogue: 0,0:14:19.39,0:14:20.46,Default,,0000,0000,0000,,we've got the evidence
Dialogue: 0,0:14:20.46,0:14:21.71,Default,,0000,0000,0000,,and we've got the means.
Dialogue: 0,0:14:21.71,0:14:25.65,Default,,0000,0000,0000,,Now, more than 500 years after Thomas\NMore first wrote about basic income,
Dialogue: 0,0:14:25.65,0:14:29.81,Default,,0000,0000,0000,,and 100 years after George Orwell\Ndiscovered the true nature of poverty,
Dialogue: 0,0:14:29.81,0:14:32.39,Default,,0000,0000,0000,,we all need to change our worldview,
Dialogue: 0,0:14:32.39,0:14:35.48,Default,,0000,0000,0000,,because poverty\Nis not a lack of character.
Dialogue: 0,0:14:35.87,0:14:38.84,Default,,0000,0000,0000,,Poverty is a lack of cash.
Dialogue: 0,0:14:39.25,0:14:40.60,Default,,0000,0000,0000,,Thank you.
Dialogue: 0,0:14:40.76,0:14:43.11,Default,,0000,0000,0000,,(Applause)