Category: Basic Income

The NDA government pitches for a regular state payment to all citizens regardless of their employment status. Photo: Pradeep Gaur/Mint New Delhi: The Narendra Modi-led National Democratic Alliance (NDA) government seems to be considering the idea of a “Universal Basic Income” or a regular state payment to all citizens regardless of their employment status.

According to a report on the Business Insider website, dated 3 January, the move aims to provide a safety net for all citizens and remove inefficient benefit systems currently in place.

The report cites Professor Guy Standing, an economist who co-founded the Europe-based advocacy group Basic Income […]

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Olli Kangas from the Finnish government agency KELA , which is responsible for the country’s social benefits, said the scheme’s idea was to abolish the "disincentive problem" among the unemployed.

Regardless of whether they find employment, decide to invest the money or splurge on a holiday, participants in the experiment will receive the same tax-free money at the beginning of each month.

Finland hopes the experiment would decrease the country’s 213,000 or almost 8.1 percent unemployed citizens out of the 5.5 million total population.Daniel Wallenius, a 27-year-old student from Oulu, believes the basic income is a good initiative and it is […]

Full Post at nflnewsdesk.com

Geneva-based expert Guy Standing hints at such a possibility Guy Standing is working on the scheme globally for the last 30 years In the run-up to the last Lok Sabha polls, Narendra Modi has promised that he would deposit Rs 15 lakh after getting all the stashed black money abroad. Well, that still remains a pipe dream, but it looks like the Centre is planning something similar, albeit on a lower scale.

Taking a leaf out of Finland, the government is reportedly planning to deposit at least Rs 500 — to begin with — in every bank account holder’s account. […]

Full Post at bangaloremirror.indiatimes.com

A man displays 500 Indian rupee notes during a rally organised by India’s main opposition Congress party against the government’s decision to withdraw 500 and 1000 Indian rupee banknotes from circulation, in Ajmer, India, November 24, 2016. Indian laborers work near solar panels at the Gujarat Solar Park at Charanka in Patan district, about 250 kilometers (155 miles) from Ahmadabad, India. (File) The Indian government is preparing a report documenting that a Universal Basic Income (UBI) is "feasible" and "basically the way forward," according to professor Guy Standing, a leading advocate for UBI, and the leader of the Basic […]

Full Post at sputniknews.com

Swarm Redistribution uses transaction-pathways to redistribute wealth, extracts tax on each transaction, and shares it with a swarm of nodes whose branching schemes are connected to the transaction being taxed. This live experiment of Resilience, with Swarm Redistribution built-in to the RES currency, is hosted on a smart-contract on Ethereum .

Ethereum, a blockchain computer and a new type of state-technology, makes it easy to build and deploy smart-contracts, and allows anyone to build decentralized applications which can do what was previously only possible to do with government institutions. Dividend pathways and growing your own taxes

When a transaction of […]

Full Post at blog.p2pfoundation.net

Finland has launched a basic income experiment – the first in Europe. From 1 January, a random sample of Finland’s unemployed will receive a monthly basic income of €560 (£477) for 2 years, even if they do paid work during that time.

The purpose of the experiment is to see if a basic income can help to boost employment. The experiment may extend in 2018 to include groups on small incomes, such as freelancers, small-scale entrepreneurs, and part-time workers. Image: Market in Helsinki – pixabay 814718 It is the first of a series of experiments where Finland will be […]

Full Post at marketbusinessnews.com

Why are people in Finland getting paid to do nothing? Finland has launched its new Universal Basic Income scheme – a controversial idea to replace other benefits with a single annual payment to those out of work.

Here’s everything you need to know about the system, including whether it works and if it could ever be a reality here. How much cash will they actually get?

Around 2,000 unemployed citizens will get €560 – or £475 – a month. The payments will continue even if they find work, and the trial lasts for two years. If successful, the pilot scheme […]

Full Post at home.bt.com

Finland embarked on a two-year long experiment this week to make regular payments to the unemployed in a bid to modernize the social security system and to explore if a basic income would help to boost employment.

The first stage of the Finnish basic income experiment, launched on January 1, involves 2,000 persons aged between 25 and 58, the country’s Parliament-supervised social security institution, Kela said.

Participants were selected from a random sample of existing jobless benefit recipients. They are set to receive a monthly income of EUR 560 for two years, in addition to existing welfare benefits. The first payment […]

Full Post at www.rttnews.com

Posted by Abi Sutherland at 05:51 PM * 43 comments

There are many things I am not, among them an economist, a futurologist, a historian of labor, (a person who writes ‘an historian’,) or an expert on Universal Basic Income in any or all its variants.

But it’s pretty clear that the world economy is changing. Jobs are already being automated away; the advent of self-driving cars, trucks, and vans is going to take another big bite out of the labor market. Between that and the lack of a living minimum wage, one possible future is more people scrambling after […]

Full Post at nielsenhayden.com