Universal Basic Income Could Double World’s GDP And Slash Emissions

Science Alert

What if we could keep everyone out of poverty while also tackling the climate crisis? It sounds too good to be true, but it could be possible with a universal basic income scheme funded by taxing carbon emissions, a new study shows.

Universal basic income (UBI) proposes that a regular payment to every person – with no questions asked or any means testing – could replace all other forms of welfare payment, and perhaps make us all happier at the same time.

The new research, led by a team from the University of British Columbia in Canada, shows UBI could not only improve living standards but also boost global gross domestic product (GDP), a standard measure of economic prosperity.

The downside of UBI is that it costs an awful lot. According to the researchers, the companies that pollute the environment could pay for it because taxing carbon emissions alone would generate about US$2.3 trillion a year.

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