Many people have suffered from financial and economic problems throughout the globe. The idea of a universal basic income (UBI) has sparked this trend. The magazine known throughout the world. The UBI is an actual cash payment for all people (2016), the economist states. Indeed, the idea behind the UBI is quite old. According to the report by James Surowiecki The Case for Free Money, the Canadian province of Manitoba had a similar experiment to the UBI in the mid-1970s...
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In recent years many European and extra-European countries have been considering the introduction of an innovative and ambitious kind of social policy: The Universal Basic Income (UBI). This concept is not completely revolutionary; already in the 90s several economists and politicians proposed the idea of guaranteeing fair standard of life to the whole society (Rhys-Williams, 1943; Friedman, 1962; Tobin, 1966). The matter has been further discussed for the following decades and has recently gained more importance due to the rapid...
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The coronavirus pandemic has already resulted in some major changes to our lives, from the introduction of mask wearing and social distancing to a reassessment of office culture. And it’s also resulted in discussions around, and calls for, a universal basic income. In the UK, the government introduced a furlough scheme during the first pandemic; companies forced to close because of coronavirus restrictions could get the government to cover 80% of the pay for employees, instead of laying people off....
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Estonia is a small but developed country, with a population of 1.3 million, located in Northern Europe. Its high-income economy is often referred to as the fastest growing in the EU. In addition to that, Estonian citizens obtain the free education and universal health care. On the international market, the country stands out for its I.T. advancements. In 2005, Estonia became the first state in the world to hold elections over the internet, and in 2014, the first to provide...
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Across the globe, even in this great era of modern development and equality, there are still millions who live in impoverish conditions, and despite their hard labour they are still unable to earn enough income to support themselves and their families. These terrible living conditions can lead to malnutrition and even death by starvation in some cases. However, there is a solution to these problems, the implementation of a universal basic income would drastically improve the lives of millions across...
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One of the central goals of development economics has been to understand how to raise the quality of life of the people. As Adam Smith (1776) made an emphasis on his book, Wealth of Nations, “No society can be surely flourishing and happy, of which by far the greater part of the numbers are poor and miserable”. In developing countries – where people are socially excluded, deprived from exercising their political rights, dwell on dilapidated areas, have little to no...
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