Last Name
First Last Name
Professor Name
Class Name
Date
Universal Basic Income
In an era by technological advancements and evolving laws, the concept of Universal
Basic Income evolved as a processing solution to address economic disruptions. As we navigate
the challenges of a quickly changing world, questions about financial security, automation, and
the pursuit of social equity become more relevant. Citizens concerned with fostering a more
inclusive and responsible society, the discussion around Universal Basic Income signals us to
re-evaluate traditional notions of work, income distribution, and human welfare. It came as an
idea of the government providing a regular, unconditional incentive to all citizens, regardless of
their employment status. Phased Universal Basic Income implementation allows for
evidence-based decision-making, reduced concerns about economic viability and unexpected
consequences. It strikes a balance between innovation and cautious policy-making. It is an idea
that leads others to believe that it is not necessarily a great solution to the problem of income
inequality, but that economic anxiety leads people to UBI. But what is the problem that
Universal Basic Income is trying to solve?
The fear is that robots taking over jobs could lead to job shortages and declining wages,
with a disproportionate share of income going to a small elite. This scenario prompts the need for
income redistribution schemes to maintain the quality of life for displaced workers in an
automated world. The current labor market already reflects poor outcomes, especially for
, Last Name
lower-skilled workers, with stagnant wages over several decades and increasing wage inequality
within education groups. Real median income in the U.S. has seen minimal growth, and the share
of income going to the bottom half of the population has decreased.
“The idea of governments giving residents no strings attached cash payments is picking
up steam, due in part to the economic impact of the coronavirus pandemic” Doug Mccay
mentions. Around the time of the pandemic people began losing their jobs as businesses started
to shut down, it takes a long time for the government to react to this problem. “Had we had a
basic income in place, that would have been a way of ensuring people are secure, have the ability
to meet their basic needs and live a dignified human life”. On one hand UBI is viewed as
anti-paternalistic, allowing individuals to live freely without government interference. Some on
the right see UBI as a way to shrink government by replacing a government with existing social
safety net programs.
Mayors for a Guaranteed Income, initiated by Stockton’s Mayor Michael Tubbs, advocates for
recurring cash payments to build resilient communities. Durham, North Carolina, explores a
Universal Basic Income pilot project, with a proposed $500 per month for formerly incarcerated
residents, aligning with the broader discussion spurred by Andrew Yang’s “Freedom Dividend.”
Various studies, including experiments in the ‘70s in Canada and the U.S., as well as recent trials
in countries like Mexico and Finland, explored Universal Basic Income (UBI) and cash transfers.
In Manitoba’s late ’70s study, a whole town experienced a guaranteed income policy to establish
a financial floor for families. Recent experiments in Finland provided $500 per month to
unemployed individuals. Notably, a large-scale UBI experiment in Kenya involves around
20,000 people receiving unconditional cash payments covering basic needs, with different
First Last Name
Professor Name
Class Name
Date
Universal Basic Income
In an era by technological advancements and evolving laws, the concept of Universal
Basic Income evolved as a processing solution to address economic disruptions. As we navigate
the challenges of a quickly changing world, questions about financial security, automation, and
the pursuit of social equity become more relevant. Citizens concerned with fostering a more
inclusive and responsible society, the discussion around Universal Basic Income signals us to
re-evaluate traditional notions of work, income distribution, and human welfare. It came as an
idea of the government providing a regular, unconditional incentive to all citizens, regardless of
their employment status. Phased Universal Basic Income implementation allows for
evidence-based decision-making, reduced concerns about economic viability and unexpected
consequences. It strikes a balance between innovation and cautious policy-making. It is an idea
that leads others to believe that it is not necessarily a great solution to the problem of income
inequality, but that economic anxiety leads people to UBI. But what is the problem that
Universal Basic Income is trying to solve?
The fear is that robots taking over jobs could lead to job shortages and declining wages,
with a disproportionate share of income going to a small elite. This scenario prompts the need for
income redistribution schemes to maintain the quality of life for displaced workers in an
automated world. The current labor market already reflects poor outcomes, especially for
, Last Name
lower-skilled workers, with stagnant wages over several decades and increasing wage inequality
within education groups. Real median income in the U.S. has seen minimal growth, and the share
of income going to the bottom half of the population has decreased.
“The idea of governments giving residents no strings attached cash payments is picking
up steam, due in part to the economic impact of the coronavirus pandemic” Doug Mccay
mentions. Around the time of the pandemic people began losing their jobs as businesses started
to shut down, it takes a long time for the government to react to this problem. “Had we had a
basic income in place, that would have been a way of ensuring people are secure, have the ability
to meet their basic needs and live a dignified human life”. On one hand UBI is viewed as
anti-paternalistic, allowing individuals to live freely without government interference. Some on
the right see UBI as a way to shrink government by replacing a government with existing social
safety net programs.
Mayors for a Guaranteed Income, initiated by Stockton’s Mayor Michael Tubbs, advocates for
recurring cash payments to build resilient communities. Durham, North Carolina, explores a
Universal Basic Income pilot project, with a proposed $500 per month for formerly incarcerated
residents, aligning with the broader discussion spurred by Andrew Yang’s “Freedom Dividend.”
Various studies, including experiments in the ‘70s in Canada and the U.S., as well as recent trials
in countries like Mexico and Finland, explored Universal Basic Income (UBI) and cash transfers.
In Manitoba’s late ’70s study, a whole town experienced a guaranteed income policy to establish
a financial floor for families. Recent experiments in Finland provided $500 per month to
unemployed individuals. Notably, a large-scale UBI experiment in Kenya involves around
20,000 people receiving unconditional cash payments covering basic needs, with different
