"Nancy Foster is the leading architect of the movement to build an inclusive and resilient economy that works for all." Her timely and important new book about guaranteed income is called The Guarantee.
The Stanford Basic Income Lab and Center for Guaranteed Income Research have partnered to visualize data from evaluations of 30+ guaranteed income pilots across the United States. New demonstrations are added as their data becomes available.
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4.Basic Income Earth Network (BIEN)
The Basic Income Earth Network (BIEN), formerly known as the Basic Income European Network until 2004, is a global network that brings together academics and activists who share an interest in the concept of basic income. Here are some key points about BIEN:
Definition: A basic income is a regular cash payment provided unconditionally to every individual, without means-testing or work requirements.
Conferences: BIEN organizes public conferences worldwide on an annual basis, fostering informed discussions about basic income.
Research Repository: It serves as a repository for published research on basic income.
Recent Developments:
Guaranteed Basic Income Pilot Program: Somerville, Massachusetts, Mayor Katjana Ballantyne announced a guaranteed basic income pilot program, although it is means-tested and does not meet BIEN’s strict definition of basic income.
UBI PhD Network: An international group of PhD students interested in basic income has launched the UBI PhD Network to connect young researchers working on UBI-related topics.
Annie Lowery, an American journalist who writes on politics and economic policy for The Atlantic, published her first book in 2018. The name of the book is titled: Give People Money: How a Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World. (Note: This book is not affiliated with balancedcapitalism.org.)
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The below article appeared in the Los Angeles Magazine on 12/20/2023.
How Giving $750 a Month to L.A.'s Homeless Proved Basic Income Works
Recipients of the income mostly spent their money on food, housing and transportation.
By Julius Miller
December 20, 2023
The solution to L.A.'s homeless epidemic may lie in a buzzy, divisive, social welfare proposal: universal basic income.
Roughly 100 unhoused individuals across Los Angeles County and parts of San Francisco were given $750 a month over a year. The money came in the form of an unconditional payment—no strings attached.
Los Angeles Times, which originally reported the findings, was told by the study's founder, Ben Henwood, that "it dispels this myth that people will use money for illicit purposes."
The study eerily reflects a plethora of other basic income trials conducted across the state. The trend to conduct such experiments was catalyzed by a nationally-watched trial in Stockton, which began in 2019 and paid 125 residents $500 a month on the same premise as the Miracle Money study: no strings attached.
According to a 2021 from NPR, the study paid off, providing an increase in employment and productivity, increased well-being, decreased stress, and the money was spent on necessities rather than drugs.
However, the only occasion that a basic income experiment was conducted on a national scale was in Finland over two years from 2017 to 2018. To date, it is Europe’s first and only national, government-backed basic income experiment.
The country supplied a randomly chosen group of 2,000 initially unemployed individuals in the country with a guaranteed, unconditional, cash payment of 560 euros per month (~613 USD p/m). Results saw a small increase in employment rather than passive consumption, a boost to well-being, and an added trust in institutions.
"Better feelings of health, happiness, cognitive abilities, and financial security seem to have instilled a sense of confidence that encouraged the recipients to branch out and to seek more expansive opportunities: unpaid work, training, or employment," they wrote.
"At a societal level, Finland’s basic-income experiment promoted another interesting virtuous cycle, around trust. Trust in others and institutions is a fundamental building block of well-functioning societies."
The number of basic income experiments continues to rise, and the results along with them. As for California, CalMatters confirmed just two years after the Stockton trial that more than 12,000 state residents would be receiving basic income payments as part of widespread, similar experiments.
Query to Bing Co-Pilot:
Which ways besides taxation (and BalancedCapitalism.org's Plan) may fund proposed UBI programs?
Bing Copilot:
Certainly! Besides taxation, there are several other ways proposed to fund Universal Basic Income (UBI) programs. Let’s explore some of these alternative funding mechanisms:
Resource Dividends: Allocate a portion of revenue generated from natural resources (such as oil, minerals, or land) directly to citizens. For example, Alaska’s Permanent Fund Dividend distributes a share of oil revenue to Alaskan residents annually.
Seigniorage: Seigniorage refers to the profit made by a government from issuing currency. Central banks create money, and the difference between the face value of currency and its production cost is seigniorage. Some propose using a portion of seigniorage revenue to fund UBI.
Financial Transaction Taxes (FTT): Implement a small tax on financial transactions (such as stock trades, currency exchanges, or derivatives). The revenue generated from FTT could contribute to UBI funding.
Data Dividends: In the digital age, personal data has significant value. Some suggest that individuals should receive compensation for sharing their data with corporations. Data dividends could be used to fund UBI.
Lottery or Gambling Revenues: Allocate a percentage of lottery or gambling revenues to UBI programs. This approach leverages existing entertainment and gaming industries.
Carbon Pricing and Environmental Taxes: Tax carbon emissions or other environmental pollutants. Use the revenue to fund UBI and promote sustainable practices.
Public-Private Partnerships (PPPs): Collaborate with private companies to fund UBI initiatives. For instance, a portion of profits from public infrastructure projects could be directed toward UBI.
Crowdfunding and Donations: Encourage voluntary contributions from individuals, philanthropic organizations, and businesses. Crowdfunding platforms could facilitate UBI funding.
Sovereign Wealth Funds (SWFs): Create or expand SWFs that invest in various assets (such as stocks, bonds, real estate, or infrastructure). The returns from SWFs can contribute to UBI.
Robot or Automation Taxes: Tax companies that use automation or AI technologies to replace human labor. The revenue could support UBI for displaced workers.
Remember that the feasibility and effectiveness of these funding methods depend on various factors, including economic conditions, political will, and societal priorities. Each approach has its advantages and challenges, and policymakers must carefully consider the trade-offs when designing UBI programs.