Universal Basic Income Series

 

ethics-of-universal-basic-income

 

Part 1: The Ethics of Universal Basic Income

A basic income is a universal income grant available to every citizen without means test or work requirement. How much money governments should issue to their people is still a topic of discussion within countries looking to launch UBI experiments. Switzerland was the first to hold a public referendum introducing the UBI with the Federal Council approving a ballot issuing adults $2,500 and children $625 a month. The referendum failed – this time. Proponents of the UBI claim that having a guaranteed basic income would especially benefit the poor working class where working 40 hours a day with perhaps two jobs instead of one, might not be enough to cover basic living expenses and needs. READ MORE…

 

Part 2: Universal Basic Income: Empirical Studies

Across developing and emerging economies, leaders are tasked to reduce income inequality and poverty. In the last century however, extreme poverty ($1.25/day) and poverty have both declined significantly worldwide. According to recent studies, since 1900 world population in general poverty decreased from around 85% to approximately 50% in 1990. The extreme poverty numbers have declined from about 70% to 25%. Many people attribute this impressive decline in the 20th century to the proliferation of free markets and capitalism across the world. READ MORE…