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Gigi Foster, “Universal basic income: the dangerous idea of 2016”

Credit to The Conversation

Universal basic income (UBI) has gain traction in the developed world. Some citizens in Australia support it. Gigi Foster, Associate Professor in the School of Economics at University of New South Wales, said, “…while good in theory, it’s no panacea for the challenges of our modern economy.”

That is, UBI is gaining traction in the developed world, but, according to Foster, is not a cure-all for the Australian economy. Foster notes this would replace some social security and welfare programs. “In the developed world, Canada is trialling a UBI scheme,” she said, “Finland also just rolled out a UBI trial, involving about 10,000 recipients for two years.” In short, there are UBI experiments.

“The present Australian welfare system (excluding the Medicare bill of A$25 billion) costs around A$170 billion per annum,” Foster said, “Our GDP is around A$1.7 trillion per year, so this welfare bill is about 10% of annual GDP.”

Read the full article here:

Gigi Foster, “Universal basic income: the dangerous idea of 2016“, The Conversation (Australia), December 26th, 2016

About Scott Douglas Jacobsen

Scott Jacobsen has written 26 articles.

Scott Douglas Jacobsen researches with varied research labs and groups, and works part-time in landscaping. He founded In-Sight: Independent Interview-Based Journal and In-Sight Publishing. He authored/co-authored some e-books, free or low-cost. If you want to contact Scott, you may inquire or comment through e-mail: Scott.D.Jacobsen@Gmail.com. He is a Tobis Fellow (Fall, 2016) at the UCI Interdisciplinary Center for the Scientific Study of Ethics and Morality (Ethics Center), weekly interview columnist for Conatus News, writer and Executive Administrator for Trusted Clothes, the Vice President of Outreach for the Almas Jiwani Foundation, Councilor for the Athabasca University Student Union, member of the Learning Analytics Research Group, writer for The Voice Magazine, Your Political Party of BC, Progressive Party of BC, Marijuana Party of Canada, BC Refederation Party, and Little Footprints Big Steps International Development Organization, Community Journalist/Blogger for Gordon Neighbourhood House, member-at-large and writer for Canadian Students for Sensible Drug Policy, and member of the Lifespan Cognition Psychology Lab and IMAGe Psychology Lab.

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2 comments

  • Maurice DeNobrega

    “The present Australian welfare system (excluding the Medicare bill of A$25 billion) costs around A$170 billion per annum,” Foster said, “Our GDP is around A$1.7 trillion per year, so this welfare bill is about 10% of annual GDP.”
    Foster, question for you: Does this money go right beck into the GDP when the people spend?
    I wonder how much Australia spend on military weapons and defence?
    Human dignity should be the cornerstone of every civilized society.

  • June Ryan

    Back in the thirties the concept of a monthly bonus for all citizens based on the profits of the nation was spreading like wildfire in Australia, New Zealand, Canada and England. It was part of Labout Party policy in West Australian election. Interestingly it all came to a halt with the upheavel of WW11?
    PS. The railway from Adelaide to West Australia, more than 1/2 the continent was built without a cent of debt. The Government paid the workers, provided the materials from its own coffers. The result was a marvellous rail line of inestimable value to traders and travellers.

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