Universal Basic Income - Revisit?
Have you heard of Universal Basic Income (UBI in short)? Simply put, everyone in a particular country will receive a certain amount of income, regardless of working or not. Usually, the income level is set in a way that ensures survival but not a luxury for sure. If you want creature comfort and luxury you pick up the skills and knowledge and you find work to do.
It is a very interesting concept, and I feel it has certain societal advantages.
Advantages
Number 1, we can reduce crime further, crimes that are a result of a family’s poverty and needs for survival for instance theft or robbery. This translates to the reduction of prison capacity and manpower.
Number 2, the social benefits program can be eliminated totally and the manpower (notice I never mention costs because it will still need to be spent as UBI) can be focused on other social objectives such as public health, aging population, etc.
Number 3, career conversion can be done at a suitable pace for those who want to switch jobs as they can pace their learning and get into the job they really are passionate about (i.e. everyone has a chance to build up their dream career). I know if my survival is guaranteed, I will love to read and research more on Intelligence and Artificial Intelligence. :)
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Disadvantages?
There is a burden on the government budget for sure, but if we pace the growth of the population and the economy (taxation) this might be a manageable issue, IMO.
There are a group of people who will just sit around and do nothing? For this point, I feel we need more data. Some proxies we can look at are retirees. Most retirees I come across are always looking for ways to contribute back to society, like sharing their work and life experience and helping out at schools and libraries. There is a fundamental and inherent need for humans to feel wanted and useful.
I will stop here because I am not aiming for an essay but rather to open up the discussion on UBI for me and you, the community. :)
What are your thoughts on this? Share them in the “Comments” please. :)
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