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On Nov. 8, 2016, financial assets in India faced the possibility of losing their values completely. This potential instability, along with the ongoing failures of India’s current welfare programs, has pushed the government to consider alternative methods for economic stability. Thus, the government introduced the idea of a universal basic income (UBI).

By replacing India’s current welfare programs with a universal income, families, rich or poor, could receive monthly stipends of equal amounts . The economic survey conducted on a UBI plan proposes a monthly stipend of 893 rupees ($13) per month, amounting to 7,620 rupees ($112) per person each […]

Full Post at borgenproject.org

Business Insider published an article based on an interview with co-founder of BIEN, Guy Standing, focusing on his analysis of the working class in the Western world.

Standing sees a growing class of “ precariat ” workers, caused by a political agenda promoting market-led competition since the 1970s. A significant group of this “precariat” is prone to listen to ugly voices playing on their fears and supporting neo-fascist populism as a result. This helps explain the election of Donald Trump in the US, but also Brexit and the popularity of Marine Le Pen and Geert Wilders in Europe.

He refers to […]

Full Post at basicincome.org

Elon Musk — the famed entrepreneur behind Tesla Motors and SpaceX, who now sits on a panel of economic advisors to President Donald Trump — was a featured speaker at the World Government Summit , held February 12 through 14 in Dubai.

In a dialogue with UAE Minister Mohammad Al Gergawi, Musk reaffirmed his belief (first expressed in a CNBC interview ) that “some kind of universal basic income is going to be necessary” to cope with unemployment due to automation of labor.

Musk’s attitude was not entirely optimistic, however. He noted that technological unemployment, and the resultant need for UBI, […]

Full Post at basicincome.org

Loud voice: A poster on the Plainpalais square in Geneva, Switzerland, in May 2016 — a month before the country held a referendum on an unconditional basic income. The Swiss who voted soundly rejected the proposal but the debate is far from over in the Alpine country. Picture: REUTERS SA does need radical economic transformation. Growth is snail-paced and inequality is increasing. The fog of political patronage is debilitating investment and future generations are ill-equipped to thrive in a changing economic landscape. Old ideas are tearing us apart rather than binding us together.

SA and the world need a utopian […]

Full Post at www.businesslive.co.za

Machines have replaced human work for as long as there have been machines, but in recent years, jobs that long seemed immune to the rise of the robots — restaurant servers, truck drivers, retail staff — have started looking shaky.

Already, at the experimental edges of the economy, you can have dinner in a server-free dining room, watch a driverless truck haul cargo from A to B, and buy your groceries without a human being having anything to do with it. So BuzzFeed News went out and spent a day experiencing the new, job-free economy. As those technologies go mainstream […]

Full Post at www.buzzfeed.com