Universal Basic Income (UBI) is often touted as the elixir of freedom and happiness, but it is even more so today as advances in artificial intelligence (AI) present a credible threat to employment. I’m here.
UK anti-poverty charity Joesph Rountree Foundation Regardless of income, existing assets or other conditions, regular cash payments can help reduce poverty, improve income security and enhance well-being, it said.
The basic income concept is not new.For example, Canadian provinces Manitoba However, the convergence of modern cultural change, especially with advances in AI, is believed to make UBI more and more necessary.
It is worth pointing out that a large-scale basic income pilot was effectively conducted during the lockdown, with eligible individuals receiving “coronavirus payments.” This gave people a “free money” experience and made UBI seem like a real possibility.
But major concerns remain about the funding of UBI, the potential for unintended consequences, such as undermining individual responsibility and autonomy, and unexpectedly increasing social inequalities.
Similarly, when considering government responses to the health crisis, another source of concern is that when combined with Central Bank Digital Currencies (CBDC), authoritarian There is a possibility that it will be abused as a powerful tool. Because I’m afraid of being cut off.
Researchers at the think tank Autonomy recently 2 year program We pay £1,600 ($2,040) per month for 30 participants in the North East of England and North London.
The group said the pilot was aimed at “a more comprehensive test to fully understand the claims of a national basic income and the potential for a basic income in the UK”.
Will Strong, director of research at Autonomy, added that a UBI would reduce poverty and improve the well-being of millions of people, and the potential benefits would be “too big to ignore.”
anthropologist David Graber He argued that meaningless work is prevalent in Western society and that mental health is undermined. He argued that such “bad jobs” were psychologically damaging, morally and psychologically damaging.
Graeber estimated that about half the jobs in the developed world fall into this category. Such roles are characterized primarily by a lack of influence. In other words, even if the job ceased to exist, the world would continue unaffected.
Examples of outrageous jobs Mr. Graber gave included administrative assistants, telemarketers, middle management, and more.
On top of that, UBI could free people from the need to do meaningless work for money. This will likely result in a major positive change in our attitudes towards ourselves and others, as the struggle for survival is no longer taken into account.
During lockdown, many people have the freedom to decide how they spend their time, Increased recreational intake, walking, reading and exercising are popular choices. There was also a lot of new business launching during this period. 13% 2020 – Suggests UBI could boost entrepreneurship.
Disadvantages of UBI
The Unexpected Political Economy Writer Stephen Bush He argued that a UBI would not result in a more equal society, but greater inequality.
He explained that because UBI is paid to everyone regardless of circumstances, high-income earners will experience increased “economic firepower to consolidate their advantage.” This could mean more capital for real estate investments, greater access to private education, and other similar benefits.
Few would dispute the humanitarian aspect of guaranteeing regular, minimum monthly payments to everyone. In practice, however, such a system would be prohibitively expensive, calling into question the feasibility of UBI.
The Joesph Rowntree Foundation, which primarily supported a basic income scheme, will fund it, warning that it is not a “silver bullet” because it requires a radical overhaul of society and the economy. He pointed out that tax increases for It’s also a problem for supporters.
“When asked directly about UBI, some studies show that a sizable minority of the public accepts the idea, at least for testing, but not a majority, and even among its proponents there are major concerns about the cost and use of funds. is shown to be holding a
According to a UK-based report by a Northumbria University professor: Matthew Johnsonit was noted that 70-80% favored a basic income of £995 ($1,270) per month, which is significantly less than the amount per municipality.
But if you do the math, even at a lower rate, the estimated costs reach £480bn a year, or 22% of the budget. UK GDP – It accounts for a significant portion of the country’s economic output.
Concerns over government involvement
CBDC development has increased significantly in recent years, with most countries either initiating or actively promoting programs.
The CBDC has drawn criticism over its concentration of control in the hands of the ruling class, with opponents saying the authorities could block certain purchases and sellers and even program expiration dates that prevent savings. I warn you that there is.
The government’s response to the health crisis, even if it was just a question, goes beyond its mandate, imposing strict lockdowns and suppressing dissent if authorities are given the chance. Indicated.
Two years later, the common narrative around the health crisis is unraveling.For example, in the “partygate” scandal, in which British Conservative Party members gathered for violating social distancing and assembly restrictions, MPs Andrew Bridgen “They laughed and didn’t care,” he said recently. He further commented that these politicians know the disease has a 99.8% survival rate and are not afraid to pass it on to their families.
data by author pew research It found that public trust in government had fallen to near-historic lows. Only 20% of Americans said they trust their government to always/most of the time do the right thing. This is in stark contrast to his mid-60s during the Johnson presidency, when the same question got his 77% response.
It has repeatedly been shown that government efforts often fall short of expectations. Combined with the willingness to trample civil liberties in the name of public health, it becomes imperative to approach CBDCs and UBIs cautiously, rather than blindly accepting them.
UBI may seem like a promising solution to inequality, but it should be borne in mind that you get nothing for free.