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Universal Basic Income

Backing For UBI Is Growing

The idea of a universal basic income has been around for decades, but it is now growing in popularity as artificial intelligence threatens to make our economic future under neoliberal capitalism even more precarious. Yet, no one would argue that a universal basic income is a panacea to capitalism’s evils. Moreover, there are different proposals for implementing a universal basic income, as renowned feminist and socialist economist Nancy Folbre — the author of several books including Making Care Work: Why Our Economy Should Put People First — points out in the interview that follows.

Artificial Intelligence Abundance, Part 5: Meaning Beyond Work

Discussions of artificial intelligence typically begin with the question, What happens when the machines take our jobs? For thousands of years, work has been the means by which we fed our families, earned our place in society, and gave structure to our lives. We have come to equate paid employment with identity. That presumption may soon be obsolete. When Elon Musk proposed replacing Universal Basic Income with what he calls a Universal High Income—a level of income sufficient for everyone to live comfortably while intelligent machines produce much of the goods and services society requires—critics warned that people would become lazy.

Most Of The World’s Wealth Belongs To All Of Us

Let’s consider a fact so stark it barely registers: the world’s five richest billionaires have more than doubled their wealth since 2020. Meanwhile, 60 percent of humanity has grown poorer over the same period. At current trajectories, we will see the world’s first trillionaire within a decade. We have grown so accustomed to statistics like these that they have lost their capacity to shock. But they should shock us. Extreme inequality of this magnitude — the richest one percent owning 43 percent of all global financial assets, while emitting as much carbon pollution as the poorest two-thirds of humanity — is not merely an unfortunate side effect of an otherwise functioning system.

Where Capitalism Meets Socialism: The Abundance Paradigm, Part 2

Part 1 of this “Abundance Paradigm” series discussed predictions that artificial intelligence and robotics will in the relatively near future produce an economy of extraordinary abundance – one in which most labor is automated. The contention of Elon Musk is that this development will require some form of government-issued “Universal High Income” (UHI) to provide the consumer demand necessary to keep the economy functioning in a world where machines do most of the work. Based on those projections, I argued that if a UHI were to become necessary, it could not realistically be financed through taxes or debt alone, but would require some form of debt-free sovereign money issuance — a modern version of Lincoln’s Greenbacks.

The Abundance Paradigm: Why AI Forces Rethinking Money

A Universal Basic Income (UBI) has long been proposed as a way to cushion the blow of jobs lost to automation. Under that model, everyone receives a modest monthly payment – enough to cover basic needs and prevent extreme poverty. Rather than a subsistence stipend, Universal High Income (UHI) would be a level of income allowing ordinary people to live well in a world where machines do most of the work. Musk has also said that AI and robotics are the only things that can solve the massive U.S. debt crisis.

Basic Income In Canada Is Closer Than You Think

Although few people would explicitly declare that poor people are morally deficient, our welfare systems are nonetheless designed around suspicion rather than support. Like many social assistance policies, opposition to guaranteed income is driven by a deep-seated fear of fraud — of “freeloaders” benefiting from the taxes of hard-working, morally upright citizens. Our collective delusion that we live in a meritocracy is operationalized into a punitive framework that rationalizes who deserves help and who does not. As a result, we spend enormous administrative effort policing eligibility, while leaving many people without adequate help.

A UBI Pilot Could Be About To Help Hundreds Of Homeless People

Academics at Northumbria University and campaigners from the UBI Lab Network have launched a groundbreaking proposal for a UK first-of-its-kind Universal Basic Income pilot. Crucially, it’s one that could start the ball rolling towards ending absolute poverty in Greater Manchester for good. The pilot would help to build the case for the eventual roll-out of a country-wide Universal Basic Income (UBI) scheme. However, its potential seismic impacts aren’t only limited to these longer-term goals. This is because the Basic Income scheme itself could be about to make a difference for young homeless people across Greater Manchester – and it could do so right away.

Report Lauds Effects Of Guaranteed Income For Struggling Families

A guaranteed income program in Boston, Massachusetts, which began in the summer of 2021, resulted in numerous positive outcomes for recipients, highlights a recently published study by the groups that organized the program. Camp Harbor View and UpTogether, the organizations that dispersed the payments, privately funded the program from a group of 107 donors. Around $750,000 was raised in total, which was given out to 50 families around the Boston area. The families who were chosen to receive funds didn’t already qualify for social safety net benefits, as the program was designed to help those who were “too rich to be poor and too poor to be rich.”

Is Universal Basic Income Part Of A Just Transition?

In the remote rural village of Dauphin, in the Canadian province of Manitoba, economists tried out an unusual experiment. In the 1970s, they persuaded the provincial government to give cash payments to poorer families to see if a guaranteed basic income could improve their outcomes. During the years of this “Mincome” experiment, families received a basic income of 16,000 Canadian dollars (or a top up to that amount). With 10,000 inhabitants, Dauphin was just big enough to be a good data set but not too big as to bankrupt the government. The results were startling, including a significant drop in hospitalizations and an improvement in high school graduation rates. After four years, however, money for the experiment dried up, and this early example of universal basic income (UBI) was nearly forgotten.

We Know The Silver Bullet To Ending Poverty And Destitution

Here’s how the world should operate in simple terms: A certain country or region or city or township or Hobbit hole tries something in order to help their society or group or hovel — if it works, other places then do it. If it doesn’t work, other places don’t do it. It’s like when you were a kid and you saw your brother slide down the banister and rack himself on the newel post — You then thought, “Maybe that activity is not for me.” But if he didn’t nail himself in the jewels, you probably thought, “I think I’ll try that.” That’s how the United States government should work, but it doesn’t. For-profit healthcare, corporate personhood, the drug war, funding terrorists overseas that we call “moderate rebels,” etc. — all of these things have been tried, they fuckin’ suck every time, and we keep doing them.

Santa Fe Just Agreed To Send Some Parents $400 Per Month

New Mexico could become the second state to implement a statewide universal basic income program. The city of Santa Fe is testing out universal basic income, or guaranteed monthly payments, for 100 parents under the age of 30 who attend Santa Fe Community College. They'll  get $400 monthly payments, also known as a "stability stipend," for a year, and if that local pilot program goes well, lawmakers are considering moving forward with a similar statewide proposal. "I think that $400 is a heckuva lot of money to a heckuva lot of people in this state," Albuquerque Rep. Antonio Maestas said during a committee hearing on Monday. Santa Fe Mayor Alan Webber, who testified at the hearing, expressed support for guaranteed monthly payments, saying that they are "exactly what we need to break the cycle of poverty."

$2,000 Checks Now And Make Them Monthly

“It’s not hyperbole, you can change America,” President-elect Joe Biden told Georgia voters ahead of the January 5 runoff Senate elections. And they have. Not only did Reverend Raphael Warnock and Jon Ossoff’s wins hand Democrats control of the Senate, but the election served as a clear referendum on voters’ demand for increased stimulus payments directly to the American people. Leading up to the Georgia election, Democrats — responding to demands by both progressives and President Trump — pushed to increase individual stimulus checks from $600 to $2,000 but were blocked by Senate Republicans. Ossoff and Warnock campaigned on this cash assistance to aid struggling families during the pandemic...

Calls For Universal Basic Income Increase As Government Support Fails

On 30 October, 520 MPs, councillors, peers, mayors and members of devolved assemblies, wrote to chancellor Rishi Sunak. They emphasised how current government support is leaving many families in poverty. In the letter, organised by UBI Lab Network, the elected representatives said: Millions of people have fallen through the cracks of the government’s support packages. The pandemic has left countless families facing poverty and extreme hardship. They added: With unemployment set to increase amid a shrinking job market, we urge you not to underestimate the wider costs to society of rising poverty and joblessness.

Germany Begins A Universal-Basic-Income Trial For Three Years

Germany is about to become the latest country to trial a universal basic income, starting a three-year study of how it affects the economy and recipients' well-being. As part of the study, 120 people will receive €1,200, or about $1,430, each month for three years — an amount just above Germany's poverty line — and researchers will compare their experiences with another group of 1,380 people who will not receive the payments. The study, conducted by the German Institute for Economic Research, has been funded by 140,000 private donations. All participants will be asked to complete questionnaires about their lives, work, and emotional state to see whether a basic income has had a significant impact. Universal basic income is the idea that a government should pay a lump sum of money to each of its citizens, usually once a month, regardless of their income or employment status, effectively replacing means-tested benefits.

Here’s How We Remake The Economy

To defend the $600 unemployment payments as both morally and economically necessary is not to suggest that the CARES Act is a sufficient solution to our economic problems. Nor, says Pavlina Tcherneva, Associate Professor of Economics at Bard College and a Research Scholar at the Levy Economics Institute and advisor to Bernie Sanders’s 2016 presidential campaign, is the Democratic-led HEROES Act, which would extend the payments through January 2021 if Senate Republicans and the Trump administration would support it. Dr. Tcherneva studies the impact of unemployment on growth, income inequality and public health, and saving people from the hardship that awaits Valerie is the focus of her work. In The Case for a Job Guarantee, which she published this summer, Tcherneva explains how the federal government could provide a living-wage job to anyone who wants one. What follows is an edited transcript of our conversation about what the pandemic unemployment payments meant for the economy and how the United States could enact a Job Guarantee.
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