confronts the Basic Income Guarantee (BIG) concept. It outlines Austrian arguments for and against the BIG; critiques of Austrian theory from market-socialist and post-Keynesian perspectives that lead to defense of the BIG; critiques of BIG that consider Austrian and other heterodox theory; comparisons of the policy to proposals by others, such as Milton Friedman's negative income tax; pragmatic arguments for the policy; and proposals which discuss complex systems theory (which is embraced by 'left' and 'right' thinkers alike) and its relationship to Hayek's spontaneous order. The collection opens a dialog between Austrian and other heterodox economists as well as between 'classical liberal,' libertarian, and left-leaning or socialist political scientists and policymakers. The authors discuss whether the BIG could offer an alternative to both laissez-faire and existing welfare systems in developed countries, which are often criticized by both advocates and critics of laissez-faire, opening a constructive dialog in policy discussion. Included in this discussion is a systematic critique of pure laissez-faire interpretations of Austrian theory, and the analysis of the addition of a BIG to pure laissez-faire in the place of existing interventionist systems. Proposals making this case form the first section, followed by rebuttals and proposals against the policy, and rejoinders.

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