The one minute Keynesian case for a basic income:
Keynesian economics works when implemented correctly. But properly implementing Keynesian economics is politically very difficult. It requires politicians who are willing to spend a lot of money on stimulus when the government appears broke, and then turn around and become deficit hawks when the government is rolling in cash and everyone wants a piece of the pie. A basic income funded primarily from an income tax would become a massive institutionalized entitlement expected by the population whose cost would automatically increase and decrease in direct opposition to the economy. As unemployment rises, the number of net receivers goes up, and as unemployment falls, so will the number of net receivers. Keynes once famously said that the government should pay people to dig holes and fill them back up again. But why waste people's time? Anyone who sits on the couch and watches TV while living off of a basic income will contribute as much to society as the hole diggers. And anyone who does anything more productive will create a net good for society.