Tag: guaranteed income

Chip Somodevilla-Getty Images A new report from the White House warns that millions of jobs could be automated out of existence in coming years. But it cautions against one much discussed solution: giving away free money.

The report , published this week by the President’s Council of Economic Advisers, joins a growing body of work forecasting massive jobs losses due to automation and artificial intelligence. A paper published in 2013 by Oxford University researchers, for example, estimated that as many as 47 percent of all jobs could eventually be automated. The new report, likewise, forecasts millions of job losses in […]

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Dec 20 2016 Perth council Perth Courier

Perth will now be pursuing becoming a pilot location for the Ontario government’s proposed basic income guarantee.

Mayor John Fenik won the approval of Perth town council on Tuesday, Dec. 20, to contact the Ontario Ministry of Community and Social Services the next morning to see if the town could one of the test sites.“I’m really sold on the basic income idea,” said Fenik. “I want Perth to be on the list for this,” but he hastened that he did not want to pursue the idea without council’s support first.“I’m reaching out to you, […]

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Traders and financial professional work on the floor of the New York Stock Exchange (NYSE), December 20, 2016 in New York City. Since Nov. 8, the Dow has surged more than 8 percent and has posted 17 record closes as it continues to approach the 20,000 mark (Photo : Drew Angerer/Getty Images) Facebook co-founder Chris Hughes and other interested entrepreneurs and tech authorities have recently pledged $10 million in order to fund the research on universal basic income.

Everything is moving forward and technology most of all is getting highly advanced. The main factor when it comes to technology and […]

Full Post at www.universityherald.com

I’ve generally talked about a Universal Social Security (a type of UBI) in its potential to create broad market effects. That’s not possible in these small experiments, so you get incomplete information.

Imagine being a landlord. If an average of 10% of your theoretical rent revenue is lost to evictions and empty units, what happens? You have 10 units that must rent for $250/month to make your profit margin, yet you face a risk of $25/month per unit. Well, to retain the same profit margin, you have to charge $275/month–and what if your tenants can only afford $260/month? You can’t […]

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Stress affects most people. In fact, young children get stressed too, even though the reason for why they feel that way is far simpler compared to adults. Typically, it’s just related to their play time being interrupted by something like the need to study, clean up, take a bath, eat or even sleep. For adults, it’s much more complex. Or is it really? When you think about it, the stress that most adults feel boils down to one thing: money. More specifically, the lack of it.

Generally, it’s the drive to meet basic needs like food, shelter and clothing that […]

Full Post at wallstreetpit.com

> Economist
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So many redditors here this morning

Economist b49d Don’t know what they did but I’m sure the first thing the IMF did when they knocked on their door was to say: "why on earth are you paying people to not work" You know guys, automation is not a problem. Its actually good. It frees up labor to go do other more useful stuff and that generally is better compensated. Automation will only become an issue when machines can build themselves and produce every step for all the materials they need to produce […]

Full Post at www.econjobrumors.com

Helena Jaczek, Minister of Community and Social Services, visited Sudbury, Ont., on Monday to talk about the provincial government’s plan to implement a basic income pilot project. (CBC) A meeting to discuss the Ontario government’s plan to implement a basic income pilot project was briefly interrupted on Monday evening in Sudbury, Ont., by calls to immediately hike social assistance rates.

Members of the Raise the Rates campaign held a straw poll. They asked people in the audience if they want the province to bring Ontario Works payments up to $1,320 a month and increase disability payments by $500, as recommended […]

Full Post at www.cbc.ca

Universal basic income is a concept that pertains to giving an amount of money to citizens without any requirements or conditions other than being legal citizens and probably a certain minimum age (most likely what’s considered as the working age). Although the idea of handing out money for free is generally viewed in a negative rather than a positive light, maybe it’s time to rethink and reconsider our perceptions.

Ideally, the amount of guaranteed basic income should be enough to cover basic needs like food, clothing and shelter, but insufficient for everything else. That way, recipients will still be motivated […]

Full Post at wallstreetpit.com

Two Canadian provinces are developing a plan to provide its poorest residents with a basic income from the government.

Ontario is looking to launch its program – the first of its kind considered in North America in decades – next spring to provide a guaranteed annual income for people and families in need.

Now Prince Edward Island’s legislature has unanimously approved developing a similar pilot project with the federal government.It was felt that such a plan would help families build their way back while reducing government bureaucracy.Ontario named former Senator Hugh Segal to study the options in a $25-million test project […]

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