Why a guaranteed basic income is cost-effective

Since the Swiss referendum on whether or not to provide a basic income to citizens took place (it was soundly defeated), the issue of a basic income guarantee has been front and center. I did a quick search on it and there were a surprising number of news stories about it in the global MSM.

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Simply put, the thinking is that a basic income is a potential solution to the problem of ever-increasing unemployment created by technological advances. This idea is catching on quickly and trial runs of the concept are taking place throughout the world – even in the United States.

Given the looming specter of massive poverty, it may just be an idea whose time has come.


By Carolanne Wright

Contributing writer for Wake Up World

Between 1974 and 1979, a radical experiment was taking place in a small Manitoba city that has all but been forgotten. Yet the result of the Canadian program is nothing short of astonishing: for those five years, poverty was utterly eradicated. The secret? Providing a basic annual income for everyone — no strings attached.

What might sound like a capitalist’s nightmare — People wouldn’t work… They would become lazy and a burden on society… The free-market would be destroyed! — turned out to be an incredible success without issue. But when a Conservative government came to power provincially in 1977, and 1979 federally, the program was dismantled and seemingly lost to the archives of societal experiments — until now.

Keep reading

Source: Basic Income Guarantee: A Surprisingly Cost-Effective Method for Eliminating Poverty

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