Release on 2019-11-14 | by Brian McDonough,Jessie Bustillos Morales
Author: Brian McDonough,Jessie Bustillos Morales
Category: Social Science
Universal basic income is a controversial policy which is causing a stir amongst academics, politicians, journalists and policy-makers all over the world. The idea of receiving ‘money for nothing’, with no strings attached, has for a long time appeared a crazy or radical proposal. But today, this policy is being put into practice. With more and more trials and experiments taking place in different countries, this book provides both the theory and context for making sense of different basic income approaches, examining how the policy can be best implemented. Unlike many other texts written on this topic, the book provides a balanced account of basic income, weighing up the pros and cons from a number of different positions. The book provides a theory chapter, enabling readers to grasp some of the complex philosophical ideas and concepts which underpin universal basic income, such as social justice, equality and freedom. It also provides an examples chapter, which examines both historical and contemporary basic income studies to have taken place from around the globe. The book also features chapters on the environment and the work of women, as well as an ‘against’ universal basic income chapter, which specifically draws on the criticisms of the policy. This volume is an essential resource for anyone who wishes to get to grips with universal basic income.
This book is about a radical idea: the idea that each of us deserves enough money on which to live - and that it should be paid independently of our personal means, and independently of whether we work, or even want to work.The concept of ‘basic income’ has been discussed internationally and has the potential to revolutionise the way that society functions. It would provide greater security for the young, for the self-employed and entrepreneurs as well as reshaping the social welfare system in its entirety.In this book, author and academic Dr Paul O’Brien explores the arguments for and against the idea and explains how this very real proposal might work in practise.
Release on 2018-12-10 | by Maura Francese,Delphine Prady
Author: Maura Francese,Delphine Prady
Pubpsher: International Monetary Fund
Category: Business & Economics
This paper discusses the definition and modelling of a universal basic income (UBI). After clarifying the debate about what a UBI is and presenting the arguments in favor and against, an analytical approach for its assessment is proposed. The adoption of a UBI as a policy tool is discussed with regard to the policy objectives (shaped by social preferences) it is designed to achieve. Key design dimensions to be considered include: coverage, generosity of the program, overall progressivity of the policy, and its financing.
Universal basic income (UBI) is emerging as one of the most hotly debated issues in development and social protection policy. But what are the features of UBI? What is it meant to achieve? How do we know, and what don’t we know, about its performance? What does it take to implement it in practice? Drawing from global evidence, literature, and survey data, this volume provides a framework to elucidate issues and trade-offs in UBI with a view to help inform choices around its appropriateness and feasibility in different contexts. Specifically, the book examines how UBI differs from or complements other social assistance programs in terms of objectives, coverage, incidence, adequacy, incentives, effects on poverty and inequality, financing, political economy, and implementation. It also reviews past and current country experiences, surveys the full range of existing policy proposals, provides original results from micro†“tax benefit simulations, and sets out a range of considerations around the analytics and practice of UBI.
We are in the midst of the 4th Industrial Revolution led by Robots, Artificial Intelligence (AI) and Software, displacing millions of workers from their jobs. The truth is that million more jobs are being lost than created. Massive unemployment could well be the future. Is UBI inevitable, a solution that has to be implemented? Hopefully this book in laying out the pros and cons will make us think more deeply into the subject.
This essay sheds light on why a universal basic income will never become mainstream and also elucidates how a universal basic income would profoundly change the world. Moreover, the economic implications of a universal basic income being enacted and how to finance your future without receiving a universal basic income are delineated in this essay. In spite of its touted merits, a universal basic income that could unconditionally be doled out to each person every month so that all individuals can attain some semblance of sustenance in their life is more of a pipe dream than a viability even though it is easily affordable by bureaucratic apparatuses and would not make a noticeable dent in their exorbitant budgets. An unconditional universal basic income can be thought of as a reverse tax or a negative income tax. Considering that productive individuals who work real private sector jobs are perpetually eviscerated out of their wealth, time, dignity, and happiness since their hard earned money is remitted to subsidize others' amenities, pensions, benefits, and incomes against their own volition, the chances of a guaranteed universal basic income being brought to fruition are essentially non-existent. Over 13,000 taxes have been imposed and offering a universal basic income would be contrary to how bureaucracies operate. In other words, people who work real private sector jobs and subsidize the amenities, pensions, benefits, and incomes of others at the cost of their own wealth, time, dignity, and happiness will never be a recover a penny that they have been eviscerated out of against their own volition. Even though enacting a universal basic income would allow people who work real private jobs to recover some of the money they have been eviscerated out of against their own volition, it has never come to pass in any country and unfortunately never will. People who work real private sector jobs are monetarily penalized for being productive since they are barred from reaping all the fruits of their strenuous labor. Bureaucratic apparatuses will never allow a guaranteed universal basic income to become mainstream since they will not unconditionally dole out money to productive private sector workforce participants. There are ample ways in which a universal basic income would profoundly change the world other than private sector work force participants regaining back a modicum of their wealth that they have been eviscerated out of against their own volition. First and foremost, a universal basic income would help alleviate poverty since people would have some money that they can earmark towards paying for basic human needs, such as food, water, utilities, and housing. By being able to afford food, water, utilities, and housing, this would not only exponentially increase the individual's standard of living, but would also allow them to have the luxury to pursue their entrepreneurial endeavors at least part time. This would culminate in productive individuals being able to earn more revenue in the long haul by having the luxury to create income generating asset through creating content and products for their brands rather than relinquishing their finite time for a fixed amount of fiat currency. The boom in entrepreneurial elicited from the advent of a universal basic income would further increase the standard of living with the arrival of more innovative products, services, and market competitors. This would also lead to lower product prices and higher industry standards being set forth so that brands can more easily win over customer from competitor brands. In the event the individual entrepreneur's branded content and products were unprofitable in the long haul then this would not be completely financially devastating since he would still have universal basic income to provide with some semblance of a safety net to cover some of the sustenance expenses, such as food and water.
Advocated (and attacked) by commentators across the political spectrum, paying every citizen a basic income regardless of their circumstances sounds utopian. However, as our economies are transformed and welfare states feel the strain, it has become a hotly debated issue. In this compelling book, Louise Haagh, one of the world’s leading experts on basic income, argues that Universal Basic Income is essential to freedom, human development and democracy in the twenty-first century. She shows that, far from being a silver bullet that will transform or replace capitalism, or a sticking plaster that will extend it, it is a crucial element in a much broader task of constructing a democratic society that will promote social equality and humanist justice. She uses her unrivalled knowledge of the existing research to unearth key issues in design and implementation in a range of different contexts across the globe, highlighting the potential and pitfalls at a time of crisis in governing and public austerity. This book will be essential reading for anyone who wants to get beyond the hype and properly understand one of the most important issues facing politics, economics and social policy today.