Basic Income

A new study on universal basic income (UBI) is challenging the central claim used to promote the scheme: that, if done right, it can help alleviate poverty. Proponents of the […]

Finland’s much-discussed basic income trial appears to have had neither a positive nor a negative impact on the employment of the participants, according to the Ministry of Social Affairs and […]

French President Emmanuel Macron on Thursday unveiled an anti-poverty plan that his supporters hope will lose him the reputation of being a president of the rich. As well as measures […]

A village in northern Switzerland has decided to take part in an experiment on basic income. Some residents of Rheinau, located near the German border, will receive a monthly payout […]

Since the beginning of last year, 2000 Finns are getting money from the government each month – and they are not expected to do anything in return. The participants, aged […]

As the global economy stares down the barrel of rising inequality and increased automation, more countries are toying with the idea of a universal basic income. But a new report by the Organization for Economic Cooperation and Development (OECD) is less than enthusiastic. According to OECD research, welfare reforms that would introduce public payment of an unconditional basic income to everyone of working age are worth exploring but would do little to combat poverty if not financed by extra tax.

That conclusion is very problematic for a welfare reform that advocates bill as a solution to poverty. A small safety net of cash distributed to everyone regardless of income level or employment status, prevents people – but especially the poor – from slipping into destitution.

Omidyar Network, the philanthropic investment arm started by eBay founder Pierre Omidyar, has invested $493,000 into an experiment giving people in Kenya free money.

The Omidyar Network is hoping the study will help advance the debate around basic income from broad theoretical terms to more practical considerations.

Universal basic income (UBI) is the notion that a government should guarantee every citizen a yearly sum of money, no strings attached. The thinking is that such a program would relieve economic stress as automation technology severely reduces the demand for labor.

Benoit Hamon secured the French Socialist Party’s presidential nomination on Sunday, beating rival Manuel Valls. Initial results gave Hamon 58 percent of the vote and Valls only 42.

Hamon was the more left-wing choice of the two politicians. He supports a universal basic income and wants to reduce the traditional work week to 35 hours. He has also spoken in support of legalizing cannabis and increased investment in renewable energy. Valls, on the other hand, has called himself a more "Clintonite" leftist with a strong belief in pragmatism and individual responsibility.