Is Universal Basic Income Still Necessary in a Boom Economy?


Around the world, a number of countries are now trialing universal basic income programs — from Wales to Finland to California and Minneapolis. 

But with the global economy now growing and wages rising, some argue that UBI and other types of income support are no longer needed. So is support waning? BRINK spoke to Floyd Marinescu, CEO of UBIWorks.

MARINESCU: During this economic emergency, a gigantic voting block of working people around the world suddenly found themselves in need of support. I believe many of these people might now support the idea of a basic income in an election because they’ve had firsthand experience of why it’s needed and when it’s needed. 

Surveys of people in the U.S. and Canada on various pandemic supports have shown that they have been able to go on to start new businesses, learn new skills, and transition into better paying jobs — or even switch careers. 

The Key Value Proposition

This is a key value proposition for basic income, because it allows people the means to pursue the work that they are better at, and make more money at, and thus, can be more productive at. 

It would also help to eliminate working poverty. Experts in the U.K. are warning that an end to the temporary increase in universal credit will result in greater poverty this winter.

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