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The Functional Principle and Impact of Unconditional Basic Income

Seminar Paper 2019 29 Pages

Business economics - Miscellaneous

Summary

“Without the freedom to make mistakes, people cannot learn to take control of their lives successfully.” These are the words of Guy Standing, a British economist and cofounder of the Basic Income Earth Network (BIEN). The BIEN aims to inform people
about what unconditional basic income (UBI) really is and how it works, based on scientific researches.

But what is the connection between a successful life, making mistakes and the UBI? Humans often assume, that unemployed people, for example are lazy or less intelligent. To confirm these prejudices, it is blamed that everyone has the same opportunities. Unemployed people just do not take these opportunities.

Nevertheless, life experience, education and social skills are not given by nature. Money is essential. People must pay for nearly everything that develops a personality or leads to equal chances. Making mistakes and learning from it is one part of this development, although not everyone has the financial space to try things and make mistakes.

The money that someone owns depends on the income that this person has. To earn money normally a job is needed, but getting a job depends exactly on the things, that make out a personality. To develop this personality money is needed. It is like a vicious circle that cannot be broken.

That is the moment, when the UBI comes into the picture. [...]

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Title: The Functional Principle and Impact of Unconditional Basic Income