Universal basic income

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A cure for income inequality?

 Local leaders across the United States are turning to private donors to fund an out-of-the-box policy experiment they think could go mainstream: Giving cash to residents, no strings attached. Newark, Milwaukee and Stockton, Calif., are among the cities testing versions of what’s known as universal basic income, a program under which residents receive a set

In Kenya, free cash is the latest solution to poverty

Until recently, Molly struggled to imagine life beyond the end of each repetitive day: work in someone else's fields and earn enough to eat, rinse, repeat. "It was a vicious circle I could not escape," says the 25-year-old villager in the Bondo region of western Kenya. Her hardscrabble, rural existence is the same for many

Can Basic Income Plus The Blockchain Build A New Economy

You may not have noticed, but a huge global movement is well on its way to creating the next generation of the internet. This massive technological sea change is largely being driven by a key innovation in database technology called the blockchain, and many forecasters are predicting that it could cause as much social transformation as

To fix income inequality, we need more than UBI—we need Universal Basic Assets

”Open a newspaper—or, more likely, click on a Facebook article on your phone—and there will be a story telling you that income inequality is at the root of America’s problems: 0.1% of the US population is worthalmost as much as the bottom 90%; CEO-to-worker pay ratios have increased thousand-fold since 1950; and wages have been stagnatingfor 35 years. But

Why Are Corporate Leaders Pushing Hard for Some Form of Basic Income?

Why did Mark Zuckerberg call for a serious exploration of Universal Basic Income in his Harvard University Commencement Address this past summer, while Elon Musk has pushed for the idea at the World Government Summit in Dubai? Universal Basic Income (UBI) would mean a monthly check to every adult in the country that would serve

Study: a universal basic income would grow the economy

A universal basic income could make the US economy trillions of dollars larger, permanently, according to a new study by the left-leaning Roosevelt Institute. Basic income, a proposal in which every American would be given a basic stipend from the government no strings attached, is often brought up as a potential solution to widespread automation reducing

Bill Gates wants to give the poor chickens. What they need is cash.

The evidence suggests cash offers a better return and more flexibility. It’s time for a definitive study: Dear Bill, A few weeks ago, you and your wife Melinda released your famous annual letter on global health and development. I’m always a fan. This year you chose to talk about health — highlighting the good news

Utopian thinking: the easy way to eradicate poverty

Why do poor people make so many bad decisions? It’s a harsh question, but look at the data: poor people borrow more, save less, smoke more, exercise less, drink more and eat less healthily. Why? Margaret Thatcher once called poverty a “personality defect”. Though not many would go quite so far, the view that there’s