by Tyler Prochazka | Nov 27, 2015 | News
In the 90s, the United States implemented some of the most far-reaching changes to welfare in modern American history. Bill Clinton worked with Republicans to “end welfare as we know it” and eliminate welfare’s supposed corrupting influence on the poor. Except the “corrupting influence” of government assistance never existed.
A recent article by the New York Times pointed out that recent research contradicts the theory that a social safety net undermines positive behavior among the poor.
The Massachusetts Institute of Technology found that cash-assistance programs in six low-income countries did not discourage work. Furthermore, a World Bank review of 19 quantitative studies found that cash-assistance in Latin America, Asia and Africa was not wasted on “temptation items,” such as tobacco and alcohol.
“Almost without exception, studies find either no significant impact or a significant negative impact of transfers on temptation goods,” the World Bank report said.
Other supposed negative impacts from welfare, such as birth out of wedlock and encouraging generational poverty, have been demonstrated to be unfounded by other research.
This trove of research demonstrates that the commonly accepted myth about welfare’s “corrupting influence” is not as well-founded as many may believe. However, research has shown clear benefits from the UBI system, including alleviating poverty, increasing entrepreneurship and improving impoverished children’s educational outcomes.
In theory, unconditional assistance may encourage some individuals to frivolously spend their money. In practice, however, the research shows most individuals utilize cash-assistance to better themselves and their families.
by Tyler Prochazka | Nov 26, 2015 | News
As cryptocurrencies grow more popular and more people look at resources like this Bitcoin Up Test while looking for reliable software to help them trade, more opportunities to change the financial world as we know it. As they mature, they may offer a method for providing a basic income to citizens across the globe, argues Alyssa Hertig in an article in Vice. Advocates like Greg Slepak, founder of Group Currency, believe that basic income has not yet been adopted on a large scale due, in part, to “government incompetence” in safe and efficient delivery of the funds. Bitcoin and other cryptocurrencies can potentially avoid this problem and with more and more people choosing to find out more about Bitcoin Era Ervaringen, it could a great way to tackle financial problems.
Bitcoin, like other cryptocurrencies, can be programmed to automatically pay out a basic income to members. It also provides a secure ledger, accessible to all members, for the delivery of funds. This allows a basic income to be implemented among consenting individuals without the passage of legislation. However, before implementing the same, it is important to understand how to buy bitcoin and use it. Resources for the same could be found on the web, which could be used to gather information about it.
That said, Hertig describes two new platforms, UCoin and Ethereum, that might to be used to allow a basic income to be distributed through a system like Group Currency. Other technological advances may simplify the process of implementing a basic income even further.
Alyssa Hertig, “How Bitcoin Could Make Distributing a Universal Basic Income Actually Possible“, Vice, August 12, 2015.
by Tyler Prochazka | Nov 25, 2015 | News
A report (pdf) by Bank of America Merrill Lynch predicts that unemployment due to technological innovation could eliminate nearly half of all jobs in the United States. This will further exacerbate income inequality, as the potential $7 trillion in new wealth from technology will likely be exclusively controlled by powerful individuals.
The report worries that this will lead to monopolization and impede innovation. While in the past, predictions of technology destroying human employment have been wrong, the article points out that in the 1930s technology made horses obsolete and the same could happen with humans.
The article suggests a Universal Basic Income as a potential solution to avoid this pitfall.
Jack Smith, “Even Big Banks Think Robot Automation Will Lead to Further Income Inequality”, Mic, November 11, 2015.
by Tyler Prochazka | Nov 23, 2015 | News
Zipcar co-founder Robin Chase is optimistic about the future of the sharing economy, but also believes that automation will force many into unemployment. While speaking at the Global Drucker Forum, Chase advocated for a “basic income” in order to combat what she sees as inevitable job displacement by technology.
While some believe that new jobs will replace those that are automated, Chase said she believes many unskilled workers will be left behind. In order to push forward the idea in the United States, Chase called for basic-income pilot projects in cities across the country.
Rick Wartzman, “Startup CEO Loves Tech but Fears Millions Will Be Jobless”, Fortune, November 14, 2015.
by Tyler Prochazka | Nov 22, 2015 | News
In order to combat poverty and increasing automation of labor, experts in technology and policy came together at the Basic Income Createathon. Participants divided into groups to develop proposals for a Basic Income Guarantee (BIG).
One group proposed a Group Income scheme, or a “voluntary automated decentralized income transfer.” This would allow a group of individuals to automatically share their income to ensure everyone received at least a basic amount of money.
One group created a website, bettertaxes.org, to illustrate how much money is spent by the U.S. government and how much would be required to implement a basic income of $1,000 USD per month.
Jon Evans, ‘Money For Nothing For Everyone’, Tech Crunch, November 22, 2015.
In the 90s, the United States implemented some of the most far-reaching changes to welfare in modern American history. Bill Clinton worked with Republicans to “end welfare as we know it” and eliminate welfare’s supposed corrupting influence on the poor. Except the “corrupting influence” of government assistance never existed.
