Thesis Statement

Thesis statement: Research has revealed that adoption of universal income is more beneficial, as it leads to improvement in the socioeconomic status of not only to individuals, but also for nation at large.

Annotated Bibliography

Bennett, F. (2017). Universal basic income far from the reality of UK’s existing social security system. European Social Policy Network. Retrieved from http://ec.europa.eu/social/BlobServlet?docId=17531&langId=en

The article talks about the rising policy debate on how the universal basic income UBI should look in the UK. Some suggested it should be considered as a basic income or citizen income. They posit that a full UBI should be provided without conditions. It should also be non-contributory and be paid equally to all people, but the variation should be on the age where children receive less and the old receive more. The article provides a procedure for allocating UBI as benefits, and for those who earn, they should be taxed anything above the amount offered under this program. It will be a sure way of financing the implementation of the UBI policy.

The source was prepared by the European Union social policy network, an organization that published periodicals on various social and economic issues to guide action by various stakeholders. The organization operates under the European Commission to guide the European states on such matters to improve the living standards or people and promote better governance. Such an authoritative body provides reliable resources to guide on various subjects. Hence, considering the source in the study on UBI will be a good idea. The article has presented tangible facts and expert opinion concerning UBI, which makes it a valuable piece of information to be utilized in the paper. It provides a wider perspective on the situation of the issue in wide Europe.

Elgarte, J. M. (2006,). Good for women? Advantages and risks of a basic income from a gender perspective. 11th BIEN Congress, University Cape Town. Retrieved from http://www.basicincome.org/bien/pdf/JulietaElgartefullpaper.pdf

The focus of the article is to address the feminist position on the UBI issue by addressing the injustices that women experience in the society. The article discusses the gender imbalance that females are forced to endure and how that situation is intertwined with their financial problems in the society. It starts by defining UBI as the unconditional income paid to all citizens and permanent residents from any part of the world, including the UBI for children being paid to their mothers or caregivers. The source suggests that job market has labor division that put women in bad position; males are given well-paying productive jobs, and females are left to do unpaid reproductive jobs. Thus, women remain financially crippled, but article suggests UBI as solution to problem.

The article was written in collaboration between Universidad Nacional de La Plata and Université Catholique de Louvain which are institutions of higher learning in Argentina and Belgium respectively. The researcher wanted to show that despite the discussing on UBI as the means to solve the social and economic problem, gender inequality has not been addressed. Therefore, it seeks to affirm that UBI will be a good solution for ensuring both genders are empowered financially. The source will be of value in addressing the issue in the study by bringing in a gender perspective to address the gaps in this area and inform other policy considerations. The gender issue has been growing worldwide; hence, considering it will be a great idea.

Fabre, A., Pallage, S., & Zimmermann, C. (2014). Universal basic income versus unemployment insurance. Federal Reserve Bank of St. Louis. Retrieved from https://files.stlouisfed.org/files/htdocs/wp/2014/2014-047.pdf

The article focuses on distinguishing between the financial securities offered by both unemployment insurance and universal basic income. The source recognizes that both policies offer protection against the idiosyncratic shock to the employed people. However, it states that the unemployment insurance is prone to moral hazards; hence, there is the need for a mechanism that will promote financial security for the unemployed and also not risk any moral concern. Therefore, UBI was proposed, as it was perceived to be easy to administer and have minimal ethical concerns.

The article was compiled by the Federal Research Bank which is American Federal organization that offers free data, graphs, and other informative details on economic issues; hence, sharing information on UBI by comparing it with an already running equivalent programs makes the source more credible. The article shall be used in the UBI research paper, since it addressed the topic of focus. It also compared it with another strategy, employment insurance, to help show the effectiveness of UBI. Hence, the article is suitable to be used in this context.

Kagan, C. (2017). Universal basic income: Is it the only cornerstone of a just society? Socialist Health Association. Retrieved from https://www.sochealth.co.uk/2017/04/12/universal-basic-income-cornerstone-just-society-2/

The article reveals the position of UK on the issue of Universal Basic Income (UBI) which seems to have taken momentum. The situation is evidenced by John McDonnell who is the shadow chancellor if the exchequer, as he announced that he had established a team to investigate the viability of UBI to improve the living standards in the UK. The primary concern for the article was establishing how UBI will affect people and policy once it has become operational. Therefore, the article reveals the benefits that people will experience through the system. For instance, it demonstrates how technology has taken many jobs that were done by human being in the past, hence rendering people unemployed without income. Thus, the concept of UBI will establish a means for covering the financial need for such people and other with or without an income.

The author of the article is a social activist and psychologist in the UK, and writing about a socioeconomic issue from her professional perspective makes the situation a serious concern. The first reference is McDonnell, a shadow chancellor of the exchequer who deals with financial matters of government. McDonnell is shown trying to convince the UK people that UBI is a viable means for balancing financial situation among citizens. Therefore, the input from such people reveals seriousness of the matter and hence the need to pursue it, making the source authoritative. The resource will be valuable in researching UBI by shading light on why not only government, but also social activists believe it is a viable plan for improving the population’s socioeconomic status.

Malul, M., Gal, J., & Greenstein, M. (2009). A universal basic income: Theory and practice in the Israeli case. Basic Income Studies, 4(1), 1-19.

The article focuses on Israel as a nation in its quest to consider a better version of UBI that will maximize the benefits that citizens will gain from the program or policy. It states that the UBI should be taxed that the tax is re-invested which will also be considered a contribution by all citizens who will be given the interest afterward. This procedure will make the population shareholders of the programs and also the beneficiaries of the profits. This system will also foster economic growth instead of untaxed UBI.

The two authors are university lecturers in the field of policy, and the third one works with the Center for Social Policy Studies in Israel. The three are experts in social and economic policy frames, hence offering a professional guide on the benefits for UBI. Thus, their article is authoritative enough for adoption. The part shall be used in the paper, as it focuses on the topic. It provides a Middle East perfective on the matter which is essential in shaping the global perspective through this study.

McGahey, R. (2016). Universal basic income and the welfare state. Institute for New Economic Thinking. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2863954

The article talks about the weak welfare states characterized by sluggish economic growth, rising unemployment, the uncertainties in the economic structural transformation, change in demographics, and rising cost of benefits which are linked to computerization and technological advancement. The source reaves that it is a dire situation that has prompted economic analysts to pursue means for delivering the welfare state benefits. It also reveals that the current economic policies have played a role in the financial hardships, and since they cannot be repaired to accommodate the changing times, a new method such as UBI can be used to manage the situation.

The authors of this article are from the Institute for New Economic Thinking which is a non-profit organization established during the 2007 and 2012 financial crises. The aforementioned establishment endeavors to foresee and provide a solution to the financial crisis. Therefore, recommending the adopting of the UBI owing to the current USA and the global financial situation seems appropriate, as they share informed recommendation from an expert perspective. Hence, the source is credible to be employed as a source in the paper. The article will be useful in establishing facts that shall be applied to address the topic by informing the audience on the value of UBI in shaping the economic atmosphere across the world.

Reed, H., & Lansley, S. (2016). Universal basic income: An idea whose time has come? London, UK: Compass.

The article endeavors to confirm that this is the right time for introducing UBI in the UK by conducting the feasibility and desirability tests. The article continues to establish how the UBI might be launched and perceived benefits in the quest for designing a better society. The society created by the UBI is expected to be democratic, equal, and sustainable. The article, therefore, shows the efforts made to gain popularity of the concept in the UK for people to share their insight.

The article was compiled by compass publisher which has been publishing on scientific topics for almost four decades. One of the authors, Stewart Lansley, is a researcher on the poverty and other social issues and has written on various topics including the cost of inequality. This aspect makes him a very authoritative person to inform on the topic alongside the organization he worked with to share this article. The source delved into the topic of research hence making it useful in this paper. The resource is essential, as it shows the groundwork for popularizing and implementing the idea.

Ryan, A. (2013). Universal basic income: A brief overview of a support for intelligent economies, quality of life and a caring society. The Foundation for the Economics of Sustainability. Retrieved from http://www.feasta.org/2013/04/17/universal-basic-income-a-support-for-intelligent-economies-quality-of-life-and-a-caring-society/

The article focuses on the current social security programs in Ireland which are replicated in other European nations, to protect a minority once they are out of employment. The source recognizes it as a program of the past, and at the moment many people including the employed need social security. Some nations such as Greece and Italy in the European Union have not social security systems, and hence, the UBI can be a tangible solution to such problems. The system will provide universal income to all citizens, and the economic disparities will decline as a result.

The article was prepared by the Foundation for Economic Sustainability which is based in Ireland. Its main function is identifying the qualities of a sustainable society and what should be done to promote stability. Therefore, offering a solution on the matters of the socioeconomic concern by recommending UBI makes the source authoritative to use in the study. The article will be used in the study of the benefits of UBI, as it focuses on the advantage of adopting this plan to redeem people who are economically sidelined by the obsolete policies.

Straubhaar, T. (2017). On the economics of a universal basic income. Intereconomics, 52(2), 74-80.

The article starts by revealing the nations that have tried to introduced UBI, those in the process, and those whose nation have declined this new policy for improving the economic standards of people. For instance, Switzerland took UBI to a referendum but it was rejected, Finland has placed it on a pilot study, and India wants to replace their welfare state with UBI. These are evidence for the growing popularity of UBI and that soon it will be the option for welfare state across the world. The main benefit of this option is its ability to provide socio-culture subsistence minimum is a concern for all nations in the world. It is a guaranteed legal claim for all members of the society.

The author is an authoritative writer on the topic concerning economic, which means his insight on the value of adopting UBI to solve economic and social challenge is reliable. Hence, the information he offers in the article is credible to inform policy shift, as many countries around the globe have already initiated programs to implement or gather support for UBI. The article will be used to shade light on the topic which shall be used in the writing of the paper. The evidence offered on various nations implementing in the process of adopting the UBI will be used to guide the development of the research.

Zheng, Y., Guerriero, M., Lopez, V., & Haverman, P. (2017). Universal basic income: A working paper: A policy option for China beyond 2020? Retrieved from http://www.cn.undp.org/content/china/en/home/presscenter/articles/2017/10/19/beyond-2020-discussing-universal-basic-income-as-a-potential-poverty-alleviation-policy-option-for-china-.html

The article starts by defining UBI as a regular and fixed cash transfer issued by the government or by a different institution serving the public. The transfer should not discriminate anybody except for the children who are under the care of the parents, whose income shall be given to their caregivers. The article reveals that the UBI idea is not new to the world as it was first introduced in the late 1700s, but gained moment in the 1960s. This idea has been proposed due to the widespread globalization and digitalization which creates a challenge for others that has led to their financial woes. Hence, considering UBI will be a reliable approach to address the situation.

The article has been prepared by one of the most authoritative bodies in the world (United Nations Development Program) in offering the solutions to the global problems. The paper is a policy option for China aimed at 2020 and beyond as a solution to the economic challenges in the nation. The UN China office prepared it using the experts in the field, which makes the article reliable in handling the topic. The article starts by defining the issue of focus in the study and gives reasons for adopting the UBI as a wise socioeconomic approach. China is a global economic powerhouse, and hence, its perspective reflects the needs for the reforms all around the world.

Part 2

Universal basic income (UBI) is a regular and fixed transfer of the cash to the citizens and the permanent residents of the state regardless of their background. The various governments offer the welfare packages to protect people especially after retirement, but the infrastructures are outdated and failing due to the rising costs of the living as well as the economic uncertainties. Therefore, a reliable system that will assure citizens of their financial future without condition is needed. The UBI is evidently the solution to the problem, as it will solve the gender inequality related to money, dealing with the freedom and the financial injustices issues, reduce the poverty rates, and save people from worrying about being unemployed among others. Research has revealed that the adoption of the universal income is more beneficial, as it leads to the improvement in the social and economic status of not only to the individuals, but also for the nations at large.

The margin between the rich and the poor is rapidly expanding, and various solutions have been introduced such as taxing those with the higher income more, but still, no noticeable change has been observed. However, the UBI might be a solution, considering that it is set above the poverty line and hence should automatically shift people from below the aforementioned measure (Fabre, Pallage, & Zimmermann, 2014). For this reason, implementing it will eliminate the absolute pauperism. The UBI treats the symptoms of the poverty rather than its cause as shown by (Zheng, Guerriero, Lopez, & Haverman, 2017). It is a form of empowerment, as it will encourage people to pursue their dreams in the various fields. The outcome will be a society with more value than there is currently (Kagan, 2017). The individuals will no longer suffer from the social and economic anxieties that are experienced at the moment triggered by the economic instabilities.

Also, the computerization and the information technology have led to the slow job growth, the demographic changes, the job loss, and the rising cost of the benefits. This situation has affected many nations and citizens, and the analysts of the economic matters have recommended the UBI as the safe solution for the problem (McGahey, 2016). Some experts have proposed the aforementioned concept as a means to provide for the subsistence needs or to complement the existing welfare benefits. Others suggest that the UBI should be used to replace the current system of the welfare benefit. Ultimately, they have all considered the concept as a solution to the financial problems experienced by the nations across the world.

Furthermore, the gender inequality has been a growing feminist position to seek for the equal opportunities for both women and men. Studies have revealed that the society considers males for high paying productive jobs, while females are given the unpaid reproductive ones. This situation places women at the receiving end of the society. Therefore, financial empowerment of the females should be considered for such situations (Bennett, 2017). Fortunately, the idea of the UBI has been growing, and since it provides for the unconditional, equitable fixed income for all people starting from children, women will have a chance to determine their financial destiny (Elgarte, 2006). The idea of this concept is non-discriminative, and it will eradicate a big portion of the gender inequality and ease the financial suffering for female population.

Moreover, the people who depend on the social security for their survival find the system punitive, weak, unreliable, and a channel to humiliate those with the lowest income. It, therefore, has become unpopular, and the ultimate solution to the situation has not been designed. As such, embracing the UBI will be a reliable move, as it will be providing the income above the poverty line and based on age where the old receive more than the children (Reed & Lansley, 2016). The outcome will be the decreasing dependence on others, as each member of the society will have a source of the livelihood which is consistent and reliable.

Technology has snatched the jobs that were performed manually by people, and now cases of the unemployment are rising. The individuals have become desperate, especially those with a single skill which has not been taken by the machines (Straubhaar, 2017). Such people can be protected by introducing the UBI which will stabilize their lives, as they consider other points of entry in the job market (Ryan, 2013). The aforementioned concept will significantly aid the unemployed in finding a safe landing when they lose their jobs, which will also minimize the cases of the unemployment. People will be able to start a venture and make a living out of it.

Additionally, the introduction of the UBI will promote the few hours’ work culture, as the individuals will have more time for the leisure activities. Some of these activities such as the physical exercise and bonding with the family and friends are socially as well as health wise rewarding. The current work culture keeps people working for long shifts, it, in turn, leads to stress and anxiety that promote the occurrence of the mental issues as well as the drug addiction. The UBI will thus encourage the individuals to work less and concentrate on the other activities in life, as the income from their employment or business will be supplemented (Malul, Gal, & Greenstein, 2009). Those with the highest income will also be taxed to support the program.

However, in case the UBI is not properly regulated, it may encourage a lazy society where people refuse to work and expect to receive free money for the survival. Hence, the governments that implement this policy should provide the means for limiting abuse by the irresponsible members of the society. For instance, the individuals who qualify for the programs should show interest in the incoming generating activities either private or public institution, since the UBI will be supported by the tax that is paid by the citizens.

In conclusion, the universal basic income (UBI) should be adopted by the nations to promote the equality, end the absolute poverty, deal with the unemployment, improve the welfare benefits, and eliminate the disparities in opportunities in terms of gender. The policy should also be considered to promote freedom, as people will have stronger bargaining power when subjected to work on low wages. The UBI implementation, however, needs firm regulation to ensure that it is not manipulated and compromised in its delivery.

References

Bennett, F. (2017). Universal basic income far from the reality of UK's existing social security system.  European Social Policy Network.

Retrieved from http://ec.europa.eu/social/BlobServlet?docId=17531&langId=en

Elgarte, J. M. (2006). Good for women? Advantages and risks of a basic income from a gender perspective. 11th BIEN Congress, University Cape Town. Retrieved from http://www.basicincome.org/bien/pdf/JulietaElgartefullpaper.pdf

Fabre, A., Pallage, S., & Zimmermann, C. (2014). Universal basic income versus unemployment insurance. Federal Reserve Bank of St. Louis. Retrieved from https://files.stlouisfed.org/files/htdocs/wp/2014/2014-047.pdf

Kagan, C. (2017). Universal basic income: Is it the only cornerstone of a just society? Socialist Health Association. Retrieved from https://www.sochealth.co.uk/2017/04/12/universal-basic-income-cornerstone-just-society-2/

Malul, M., Gal, J., & Greenstein, M. (2009). A universal basic income: Theory and practice in the Israeli case. Basic Income Studies, 4(1), 1-19.

McGahey, R. (2016). Universal basic income and the welfare state. Institute for New Economic Thinking. Retrieved from https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2863954

Reed, H., & Lansley, S. (2016). Universal basic income: An idea whose time has come? London, UK: Compass.

Ryan, A. (2013). Universal basic income: A brief overview of a support for intelligent economies, quality of life and a caring society. The Foundation for the Economics of Sustainability. Retrieved from http://www.feasta.org/2013/04/17/universal-basic-income-a-support-for-intelligent-economies-quality-of-life-and-a-caring-society/

Straubhaar, T. (2017). On the economics of a universal basic income. Intereconomics, 52(2), 74-80.

Zheng, Y., Guerriero, M., Lopez, V., & Haverman, P. (2017). Universal basic income: A working paper: A policy option for China beyond 2020? Retrieved from http://www.cn.undp.org/content/china/en/home/presscenter/articles/2017/10/19/beyond-2020-discussing-universal-basic-income-as-a-potential-poverty-alleviation-policy-option-for-china-.html