by Andre Coelho | Oct 18, 2018 | News
During a lunch served at the Roosevelt House (Public Policy Institute at Hunter College, New York), on the 24th October 2018, basic income will be presented and discussed, by speakers Michael A. Lewis (Silberman School of Social Work at Hunter College), Eri Nogushi (Association to Benfit Children & adjunct Professor, Roosevelt House) and Almaz Zelleke (Department of Social Science, New York University in Shanghai), in a session moderated by Sanford Schram (Department of Political Science, Hunter College).
The event’s press release reads as follows:
“Recent research shows that, contrary to longstanding American beliefs, having a job does not guarantee a path out of poverty. With the rise of automation and stagnant wages, discussions on anti-poverty measures are more relevant now than ever. One such proposed measure is the idea of universal basic income, which would ensure that no one’s income would fall below a certain level, whether or not they were employed. Roosevelt House’s online Faculty Journal recently published commentaries on this issue, and to continue the conversation three of the authors will explore the economic, sociological, political, and philosophical dimensions underpinning this approach. This moderated discussion will include an assessment of the far-reaching implications of this important policy proposal to combat poverty and recommendations to address the entrenched structures of inequality in the United States today”
Registrations can be made here.
by Andre Coelho | Oct 10, 2018 | News
There is a plan for distributing dividends, unconditionally, for all Americans. It has been coined as the Social Wealth Fund (SWF), an idea developed and pushed by the People’s Policy Project (3P) founder Matt Bruenig, a known lawyer, blogger and policy analyst in the United States. 3P is a think tank founded in 2017, focused on studying policies benefiting citizens at large.
This plan, described in greater detail in a booklet, rests on the idea of turning national a kind of wealth fund such as the Alaska Permanent Fund (APF). However, unlike the APF, the SWF would have to rely on other sources of revenue (other than oil). Bruenig’s suggestions range from voluntary contributions, managing state-owned physical assets through the fund, various kinds of taxes (including eliminating tax breaks for the rich), leveraged purchases, to monetary seigniorage. This income is supposed to come from the highest earners in society (ex.: corporate taxes, financial taxes, philanthropy, stock exchanging), distributing it by all people.
Peter Barnes, an advisor to the Economic Security Project, has written about the SWF. According to him, the SWF is “refreshing”, because apparently none of the past policies have solved or even reduced inequality, such as “greater funding for education, infrastructure investment, low interest rates, a higher minimum wage, trade wars, tax cuts, or even a federally guaranteed job”. The inequality problem runs deep in society, and that’s where an unconditional dividend distribution of commonly owned assets could really be effective.
As for distributing dividends, Bruenig’s idea is to set this as a percentage of a five-year moving average of the fund’s market value. This could equate to a withdrawal rate of, say, four or five percent. If, at a given moment, the total fund value is $10 trillion, then the available dividends for distribution are $400 billion (Note 1).
On an article published by Anne Price and Jhumpa Bhattacharya, on wealth funds and racial inequality, the concept is summed up nicely:
“Often referred to as a Social Wealth Fund, Citizens Wealth Fund or Sovereign Wealth Fund, this concept rests on the principle of shared ownership, and builds from the foundational vision that all Americans have a right to reap benefits from wealth that we all created together.”
Note 1 – billion = 1 thousand millions
More information at:
Matt Bruenig, “Social Wealth Fund for America”, People’s Policy Project, 2018
Peter Barnes, “Opinion: All Americans would get an income boost under this new plan to share the country’s riches”, Market Watch, September 10th 2018
Anne Price and Jhumpa Bhattacharya, “Why a Social Wealth Fund Must Account for Racial Inequity”, Medium, September 19th 2018
by Andre Coelho | Oct 8, 2018 | News
Rebecca Panian
The Swiss village of Rheinau is being targeted for a basic income experiment. The idea is being promoted and produced by the Dorf Testet Zukunft organization (Village of the Future Test). It started in 2016, through a popular initiative, and it had already been approved by more than 25% of the Reinhau population, at the time. Although Reinhau is only habited by 1300 people, 813 have already registered for the experiment. That is above what the organization needed for starting funding, which was 651 registrations.
The basic income test itself is planned to start as early as 2019, given enough funding is secured, which starts now. The Dorf Testet Zukunft will have to raise over 5 million Swiss Francs (4,4 million Euros). The plan is for this amount to be distributed unconditionally to all registered participants, for a year. The money will be distributed according to age, such that until 18 years old children receive 550 €/month, the 18-22 years old bracket receive 1100 €/month, from 22 to 25 years old 1640 €/month and above that a 2190 €/month stipend is specified. According to the organization, income from other sources will be discounted over the basic income, up to its maximum value. However, no one will be left with less income than presently, and all people with less income than the basic income value will have more than before (during the experiment). The exact and appropriate experimental mechanism and values are in accordance with villagers and the local council, since the project is open to comment and contributions from all involved.
Dorf Testet Zukunft’s team is composed by several dedicated people, headed by project initiator and filmmaker Rebecca Panian, Reto Ormos (financial expert) and Reda El Arbi (Communications), among others. There is also a scientific team dedicated to the project, including Jens Martignoni (FleXibles), Aleksandra Gnach (linguistics professor at ZHAW), Theo Wehner (ETH Zurich) and Sascha Liebermann (Alanus Hochschule). Other support come from activists like Daniel Häni, Götz Werner and Enno Schmidt.
Funding is planned to be done through a crowdfunding process, using Wemakeit, a crowdfunding platform founded in Switzerland in 2012. Data is to be collected from recipients during its duration, with a focus on answering general questions such as “What happens to the people?” and “What happens in the community?”, and analyzed afterwards. A documentary film is also planned, directed by Rebecca Panian, which main drive is a search for an answer for “how we want to live in the future”.
The idea is, in a nutshell, can be condensed in the following words written in the Dorf Testet Zukunft’s website:
“We want to test a possible new future as realistic as possible. This requires pioneers who dare and try it out. Best case: we can encourage people to discuss about the idea of the basic income because we are convinced that a system change must come from the people. Not prescribed from a government.”
More information at:
Dorf Testet Zukunft website
by Andre Coelho | Oct 3, 2018 | News
Picture credit to: Feminism in Canada (Youtube)
Could a guaranteed livable income create healthy societies and save the planet?
A grassroots group of Asian feminists address this question by organizing a panel of leading experts on basic income and environmental justice, taking place on Wednesday, October 17th 2018, the International Day to Eradicate Poverty. Guaranteed Livable Income and Sustainable Futures is the second annual public event on basic income hosted by Asian Women for Equality, and will take place at La Maison du Développement Durable (House of Sustainable Development) in Montreal, Canada.
The panel includes Rob Rainer of Basic Income Canada Network, Cathy Orlando from the Citizen’s Climate Lobby Canada, Indigenous activist Cherry Smiley, and a host of other community organizations that will delve into what basic income could mean for sustainability and environmental justice, and how this relates to advancing Indigenous rights, women’s rights and racial equality.
Simultaneous interpretation will be available between French and English, and the venue is wheelchair accessible. Registration is possible here.
by Andre Coelho | Oct 2, 2018 | News
On the 9th of October 2018, at 6 pm, professor Sascha Liebermann will speak at the GLS Bank in Frankfurt. The event is organized by the Bündnis Grundeinkommen Hessen (Hesse Basic Income Alliance) political party and is expected to last for around two hours.
General description of the event:
Unconditional basic income (UBI) is a monthly amount of money which is sufficient for your existence, unconditional and for everybody. The UBI is a polarising idea for most groups in society. Opponents fear that the principle of pay-for-performance will be undermined. Others think that the UBI will weaken social justice, because the existing social welfare state will disappear. Supporters of UBI claim that it will be an effective mechanism to create a humane working environment, in a time of increasing digitalisation of work. Above all, supporters claim that UBI gives the opportunity to free human beings from an economic straight-jacket and existential threats, allowing all members of society to prosper and develop their own potential.
The GLS Bank in collaboration with the ‘Bündnis Grundeinkommen Hessen’ party has invited Professor Sascha Liebermann from the ‘Alanus Hochschule für Kunst und Gesellschaft’ near Bonn as guest speaker. The purpose is to explore the concept and discuss with the audience the risks and opportunities of UBI.
