The government of Macau, a semi-autonomous city in China, has announced that this year’s “Wealth Partaking Scheme” (WPS) will distribute 9,000 Macanese Pataca (about US$1127) to each permanent resident and 5,400 Macanese Pataca (about US$676) for each non-permanent resident.
The only condition is to have a valid or renewable resident identity card delivered by the City of Macau.
The WPS is a Macanese government program that has distributed a yearly dividend to Macanese residents since 2008. A total of 675,696 people will receive the dividend, most of whom (607,465) will receive the full amount. The size of the dividend is the same as in 2014, but the number of recipients has increased by 40,000.
The WPS is essentially a small basic income, similar to the Alaska dividend. It is mean to ensure that all Macanese share the benefits of the region’s economic development to help mitigate the effects of inflation.
Credit picture: CC Kevin Jaako
For more information about the WPS see:
Kam Leong, “Wealth Partaking Scheme Susceptible,” Macau Business Daily, June 19, 2015.
Wikipedia, “Wealth Partaking Scheme,” Wikipedia: the free encyclopedia, accessed June 29, 2015.
Karl Widerquist, “MACAU: Government Distributes Temporary Basic Income,” Basic Income News, August 23, 2014.
A check for the Wealth Partaking Scheme in 2008
hey karl
i just wanted to share an idea that i am pursueing
of creating a
basic
income
guarantee
B.I.G.
MONEY
bar
as in drinking and eating
in a collage town
operated by young people
with some % of proceeds
used for supporting
basic income movement
it will serve as a platform
for educating and developing
the idea and implementation
of basic income
i mean a presentation platform as in
video and speakers and other
customers will be supporting
a movement that is getting bigger all the time
resulting in more customers
and support.
BIG business
a BIG neon sign
with the name sortof
like i have it at the beginning of this note
to create awareness
and advertize
the movement
the product line could even be extended
to include groceries
and anything,
for the customers
to support the movement
and share and unify
in their action.
.i am just beginning
this project
and wanted to share the idea
for reflection
by anybody
and of course to share
thank you for this movement
Yes, the basic income is only the beginning. A far more important revolution needs to take place. Here, one refers to Transfinancial Economics in which newly created money can be phased into the economy without leading to inflation, or indeed, hyperinflation. How? The answer is basically simpl.e. Special super-flexible electronic controls are used to control inflation but in a way which allows for the free market price to rise, and fall naturally. They would also phase out interest rates, and taxation as a means of dealing with inflationary pressures. http://www.p2pfoundation.net/Transfinancial_Economics