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Welfare State

Facebook Founder Says Free Money Will Make Everyone Rich

Written by Joe Scudder

So everyone can be an entrepreneur like him, Facebook founder Mark Zuckerberg says we need universal basic income.

The Facebook founder is making promises about “equality” that are bound to disappoint. Perhaps, that is part of the strategy, since people will inevitably be disappointed with the results and then advocate that the government take even more power over our lives. While rational people know that a universal basic income would cause higher prices, and thus do almost nothing to help those who need it, Zuckerberg hints that we can all become wealthy.

According to CNBC, the billionaire advocated

the need to consider universal basic income for Americans during his Harvard Commencement Speech.


“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract,” Zuckerberg said during his speech. “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful. We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas.”

By using himself and his success as an example, Zuckerberg indicates that the government can make us all into amazing entrepreneurs by giving away free money.

But Zuckerberg got lucky, in more ways than he acknowledges. There are people who were just as “cushioned,” just as smart, and just as driven to succeed, who have never and will never get to his level of success. Zuckerberg’s own children will never do it. And that’s ignoring all the “cushioned” people who live like Paris Hilton rather than tech entrepreneurs. A universal basic income, if it does give people more purchasing power, is far more likely to be spent on marijuana than developing new technology.

Read the full CNBC story.

The views expressed in this opinion article are solely those of their author and are not necessarily either shared or endorsed by

About the author

Joe Scudder

Joe Scudder is the "nom de plume" (or "nom de guerre") of a fifty-ish-year-old writer and stroke survivor. He lives in St Louis with his wife and still-at-home children. He has been a freelance writer and occasional political activist since the early nineties. He describes his politics as Tolkienesque.

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