Started on January 1st Finland will be giving 2000 of their unemployed a free income of 560 Euros per month. This program will last for 2 years as an experiment to measure the effects universal income will have on employment and to review their social security system.
Articles:
http://www.smithsonianmag.com/smart-news/finland-has-new-social-experiment-giving-people-free-money-180961684/
http://basicincome.org/news/2016/10/finland-kelas-report-basic-income-experiments-released-english/
https://www.theguardian.com/world/2017/jan/03/finland-trials-basic-income-for-unemployed
Some countries like Brazil and Uganda have also started similar experiments or programs to help poverty and see the effects.
Articles:
http://basicincome.org/news/2016/12/brazil-basic-income-startup-gives-lifetime-basic-incomes-villagers/
http://basicincome.org/news/2016/11/uganda-two-year-basic-income-pilot-set-to-launch-in-2017/
What is universal basic income (UBI) ?
My simple understanding is that it is a periodic payment of cash or equivalent to an individual with no conditions attached. Basically free money like a salary except you don't have to work for it.
Why?
According to their advocates:
- The right to life and dignity of all people
- Help reduce Inequality
- Lower crimes
- Encourages freedom and democracy
- Better distribution of jobs
- Revaluation of unpaid labor
and many more see the articles below
http://www.basicincome.org.uk/reasons-support-basic-income
http://www.globalincome.org/English/Global-Basic-Income.html
My views and opinions
I have just learned of this concept and am very intrigued. The truth is machines and artificial intelligence/AI are taking over the jobs that we have and our population in the world is growing rapidly. Even content creation is taken over by artificial intelligence.
http://www.edp24.co.uk/business/the_rise_of_the_machines_could_robots_be_the_future_in_careers_such_as_journalism_and_law_1_4836594
In Singapore, my country is embracing technology like there is no tomorrow which takes away some jobs that are needed to sustain the high cost of living in Singapore.
http://www.todayonline.com/singapore/rise-robotic-dawn-services-industry
According to Moore's law these technologies will only exponentially grow smarter and more efficient. This may devalue us as human workers. A universal basic income may give us the choice to educate ourselves further without the fear of falling into disastrous poverty or let us indulge in our arts and loves as an alternate way to get more income.
The only fear i have is of that inflation may just erase these benefits. Greedy companies will just up the prices if they treat basic income into account of their pricing and such.
I am just learning of this new theory and will be looking into it.
How Cryptocurrency like Steem can help?
I am not entirely sure because i am also new to Cryptocurrency. As i see it, Steemit looks like a good platform for this philosophy to work. You have whales generating high amounts of currency and distributing it. Forgive my ignorance, i am not very sure of how Steem works yet but these Steemians may have a better idea.
So how do you feel about basic income ??
How do you think Cryptocurrency can help??
picture source: Pixabay 1 Pixabay 2
Have a great day!!
