UBI - Introduction

2020-04-29
I think that UBI is an idea which is very much needed, not just in the future, but now, today. Especially with Covid19 ravaging employment levels all around the world, and hunger and homelessness increases hand over fist.
The basic idea is that every person (often adults only) are given a monthly amount by the government. no questions asked, no criteria for qualification. This is an idea that generates hot emotions, and I will share some of the information that I have researched. Interestingly enough, there was much more research, current and historic, than what I previously realised.
And before we dive in - NONE of that research has ever found a detrimental impact to levels of employment.

I want to explore some ideas around UBI. But before we do that, we need to understand some terms and relationships.
All the goods and services produced in a country (GDP) is paid for. Payment is made for the capital and the labour used in making those goods. A share is also paid to the government to provide social goods and services in the form of taxes. In this posting I will explore what work is, the reward to labourers for executing the work, whether that reward is equitable, and whether all work is rewarded. Next I will explore capital and its reward. I will also consider whether the rewards are distributed fairly. In a later post I will link together the ideas of reward for labour, capital, and the payment of a UBI, using taxation as a link, and hopefully show a way to a more equitable distribution of the rewards for producing GDP.