Welfare systems need wholesale change to adapt to automation, the gig economy and changing global trade, says the Adam Smith Institute ahead of the World Economic Forum meeting in Davos. Policymakers may need to consider a ‘Universal Basic Income’ (UBI), whereby citizens are paid a regular, liveable and unconditional sum of money from the government. Payments under the scheme would not require recipients to look for work, and would be paid regardless of other income.
There are currently trials for this type of scheme in countries such as Canada, Finland, Uganda and Kenya, although Switzerland overwhelmingly rejected the idea in […]
Full Post at www.yourmoney.com