Part of the reason for the proposal is risk avoidance; because around one-fifth of Norway’s gross domestic product comes from oil money. The hope is to keep generating enough income to keep Norway’s welfare state going into an oil-free future.Read more
A more interesting benefit was that a $4,000 yearly increase in household income reduced the poorest kids’ chances of committing a minor crime by 22%, Wired reported.
Children whose families received the payment had 40% less behavioral problems than other kids, Costello estimated. Those kids also had a lower rate of drug and alcohol addiction. She also found that 14% of the Cherokee families that received the income rose out of poverty.
Paying every citizen in the United States $1,000 a month would grow the economy by 12.56% in eight years, a report from a left-wing think tank called the Roosevelt Institute claims. That would certainly be better than the 1.6% U.S. GDP growth rate reported in 2016.Read more
Tests in the Indian state of Madhya Pradesh found that villagers who received basic income payments experienced better nutrition and a decrease in serious health problems.Read more
If basic income opponents wish to succeed they will need to come up with some good arguments and realistic alternatives. One reason I suppose they do not is that the whole concept of basic income is unsettling. The idea that people might be able to survive; and be happy, without work runs to counter to everything we have been taught.Read more
It would encourage entrepreneurship by giving many more Americans a strong incentive to become landlords. The incentive would be a steady income for people that went into the affordable-housing business.Read more
The gravest danger here is that there is no safety net for gig economy workers. Many of them are not eligible for unemployment insurance and a lot of them have no savings.
The sudden closing of something like Uber would throw hundreds of thousands out of work at once. A great many of them would have nowhere to turn but Food Stamps or worse the Food Pantry.Read more
Ontario is experimenting with the most radical overhaul to the welfare state in North America since Lyndon Johnson’s Great Society in the 1960s. Canada’s most important province is planning to experiment with basic income for 4,000 people.Read more
A skillful use of a combination of artificial intelligence and block chain might increase the efficiency, transparency and effectiveness of government.
There are many ways that blockchain and AI can reduce the cost of government while making it more responsive to citizens. Even some age old abuses might be corrected or eliminated by these cutting edge technologies.Read more
This is interesting and exciting news because a basic income experiment in India would be the largest adoption of a new welfare system; since the United States set up Social Security in the 1930s. Like American Social Security; Indian UBI would be a radical break with the past, and a new model for society.Read more