Category: Basic Income

First of all, there is no one idea of guaranteed basic income. There are various models which disagree regarding implementation details and lead to completely different outcomes (How high exactly? Does it include children? How about the different types of foreigners? What do we do with all the pension funds people paid into for decades?).

But many ideas are based on the idea that all forms of welfare spending are abolished and replaced with a fixed monthly payment which covers the cost of living a decent human life (with different interpretations of "decent").

That means instead of our very differentiated and […]

Full Post at politics.stackexchange.com

The rock-star days are back for Chief Economic Advisor Arvind Subramanian, who had maintained a studied silence ever since India scored an economic self-goal over his head on 8 November 2016. His ambitious Economic Survey , released on Tuesday, includes a much-awaited presentation of the Finance Ministry’s thinking on Universal Basic Income (UBI). Contrary to some media reports, the Survey does not advocate a specific plan for UBI in India. Rather, it explains the idea, explores various options, and concludes that UBI "if not ripe for implementation is ripe for serious discussion". But there is certainly a tone of […]

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The Indian government has endorsed universal basic income (UBI) in an annual report.

UBI is a “powerful idea” and would be more effective at combating poverty than existing state benefits, according to the country’s 2016-2017 Economic Survey.

However if it were implemented now political challenges could "derail" UBI before it got off the ground, the survey found, suggesting the country is not yet ready for the scheme.The introduction of UBI is not expected to be announced in the Union Budget, which will be delivered in Parliament by Finance Minister Arun Jaitley on Wednesday, but it could be tabled for discussion in […]

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As technology-driven changes like Honda’s robot Asimo redefine society’s understanding of work, some are looking at a "universal basic income" as the way forward PARIS —

It is a utopian idea, literally, but is enjoying a renaissance as politicians and policy wonks grapple with technology-driven changes that could redefine our very understanding of work.

If robots and machine intelligence threaten to render many white-collar jobs obsolete, then what will people do for money?Enter the concept of a “universal basic income”, a flat sum paid to all regardless of your existing wealth or ability to work. It is one of the rare […]

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Sci-Tech & Health

Editor’s Note: Automation is coming, and it’s going to drastically reduce the amount of labor needed for society to function. This will result in many people – particularly unskilled workers – being out of work and having very little to do. This could have many negative ramifications, such as increased crime, substance abuse, and so forth. While I’m still apprehensive about UBI, we need to be prepared for automation and its consequences.

It is a utopian idea, literally, but is enjoying a renaissance as politicians and policy wonks grapple with technology-driven changes that could redefine […]

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A sign asks for volunteers in the clean-up effort after Superstorm Sandy slammed into parts of New York and New Jersey, leaving thousands without homes, power and heat. (Photo by Spencer Platt/Getty Images)

It’s difficult to deny the attractive qualities a Universal Basic Income (UBI) holds. A radical policy such as this could right many of the inequalities that exist in our societies, says Eva Cox, a former program director of Social Inquiry at the University of Technology, Sydney.

“Brought together, it is clear that a Universal Basic Income (UBI), if implemented appropriately, could help address historic gender, race and material […]

Full Post at bigthink.com

New Delhi: Indian politics currently lacks the maturity to give up subsidies for the greater goal of a universal basic income, finance minister Arun Jaitley said.

In an interview with DD News after presenting the Union budget for 2017-18, Jaitley said the country cannot afford to offer both subsidies and universal basic income. The Economic Survey presented in the Parliament on Tuesday had pitched the idea of a universal basic income.

“I think the Universal Basic Income is a wonderful idea. The Economic Survey is one of the best drafted documents I have ever read. (Chief economic adviser) Arvind Subramanian has […]

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Refugees in India receive cash assistance (Credit: European Commission / Flickr) In a world of rising inequality and automation, the idea of a universal basic income is gaining momentum, from the most developed countries to some of the poorest. Finland made headlines when it launched a trial at the start of the year, and France’s left-wing presidential contender Benoît Hamon included it in his platform. Now, India’s chief economic adviser says it’s time for “serious public deliberation.”

“[Ghandi] would have been conflicted by the idea but, on balance, might have endorsed it,” Chief Economic Adviser Arvind Subramanian wrote in the […]

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Government’s move to enhance rural spending through welfare schemes like MGNREGA and reduction in tax rate on basic income slab would help drive demand for products, say leading FMCG firms. (Source: IE) Government’s move to enhance rural spending through welfare schemes like MGNREGA and reduction in tax rate on basic income slab would help drive demand for products, say leading FMCG firms. Godrej Consumer Products Ltd (GCPL) Managing Director Vivek Gambhir said that reduction in tax slab would leave more money with the consumer to spend and would increase the demand.

“It is largely positive for the FMCG sector, given […]

Full Post at www.financialexpress.com

For centuries, the idea of a universal basic income – a regular sum paid to all citizens or residents whether or not they are in work – has lit up the eyes of political philosophers. It has long been favoured on the political fringes, appealing to the radical left for its supposed compatibility with a zero-growth world and its reward for caring, and to the libertarian right as a way of rolling back the state. But in the last couple of years, the basic income has suddenly forged a path from academic seminar room to on-the-ground trials. Here in […]

Full Post at www.theguardian.com