Universal Basic Income

What is Universal Basic Income?
Universal basic income is a concept where every individual in a society, regardless of their age or employment status, receives a fixed amount of money regularly from the government or a similar authority. The purpose of UBI is to ensure that everyone has a minimum level of income to cover their basic needs and have a better quality of life.
Here are some key points about universal basic income:
Regular payment: UBI provides a recurring payment to individuals, typically on a monthly basis. This payment is given without any conditions or requirements.
Universal: UBI is meant for everyone within a society, regardless of their socioeconomic background, employment status, or any other factors. It applies to teenagers, adults, and senior citizens alike.
Basic needs: The amount of money provided through UBI aims to cover basic needs such as food, shelter, healthcare, education, and other essential expenses. It ensures that people have a safety net to rely on.
Supplement, not replacement: UBI is designed to supplement an individual’s income, not replace it entirely. People can still work and earn additional income on top of the universal basic income they receive.
Redistribution of wealth: UBI is often seen as a way to address income inequality by redistributing wealth more equitably. It helps ensure that everyone benefits from the collective resources and opportunities of a society.
Freedom and flexibility: UBI provides individuals with greater freedom and flexibility in choosing their work, pursuing education or training, starting businesses, or engaging in activities they are passionate about. It can reduce financial insecurity and allow people to take risks or explore new opportunities.
Societal benefits: Proponents of UBI argue that it can have several positive impacts on society. It may help alleviate poverty, improve overall well-being, stimulate economic activity, encourage entrepreneurship and innovation, and reduce social disparities.
It’s important to note that while universal basic income has gained attention and support from various individuals and groups, it is still a topic of debate, and its implementation may vary depending on the specific country or region.

Richard Branson: Universal Basic Income

Sir Richard Charles Nicholas Branson is a British business magnate and commercial astronaut. His Net worth is $3 billion USD (2023). In the 1970s he founded the Virgin Group, which today controls more than 400 companies in various fields. Branson expressed his desire to become an entrepreneur at a young age.
Source: en.wikipedia.org

How does Universal Basic Income work?

Do Houston Residents have Guaranteed Income?

Image of Mayor Sylvester Turner is courtesy of Carmen Mandato/Getty Images

In May of 2022 the chron.com reported: Mayor Sylvester Turner of Houston (Texas), who’s a member of “The Mayors for a Guaranteed Income,” a nationwide advocacy group, funded a program to give 110 needed people in Houston, $375 a month through their “Houston Fund for Social Justice and Economic Equity.” The payments amount to $4,500 over a year. To qualify, you must live in Houston, be at least 18 years old and have a household income at or below the federal poverty level.

Source: chron.com/news

Time for Universal Basic Income in the UK?

UBI: The Gaming Platform

Who is Milton Friedman?

Milton Friedman was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy.

Source: en.wikipedia.org

Who is Milton Friedman?

How does the Money work in Organized Crime?

Money, Holochains and the Language of Currency

Changes in the Dollar System & Global Currency Regime

The above episode is courtesy of the India Foundation (‘IF’) Specials features a conversation between Ms Catherine Austin Fitts, Former Assistant Secretary of HUD, USA and Mr Come Carprentier, Distinguished Fellow, of ‘IF’ on “The Dollar System and the coming changes in the global currency regime.”

Universal Basic Income in India

Who created the Universal Basic Income system?

The idea of a universal basic income (UBI) has been discussed and proposed by various individuals and groups throughout history. It is difficult to attribute the creation of the UBI system to a single person or entity as it has evolved over time and has been influenced by numerous thinkers, economists, and policymakers. 

One of the earliest proponents of a basic income concept was Thomas Paine, an English-American political philosopher, who proposed a form of guaranteed income in his pamphlet “Agrarian Justice” in 1797.

In the 20th century, economists such as Milton Friedman and James Tobin also discussed similar ideas. In recent times, the concept of UBI gained more prominence with various proponents and experiments conducted in different countries. 

One influential advocate is Professor Guy Standing, who coined the term “precariat” and has written extensively on the subject. However, it is important to note that UBI is a concept that has been shaped by the contributions of many individuals and organizations over time, and there is no single creator of the system.