Introduction
The concept of UBI or universal basic income has been gathering force all over the world. In the year 2016, Switzerland voted on introducing UBI across the nation (though the idea was eventually rejected); India has been contemplating substitution of UBI for its current welfare state; and Finland has been testing the concept on certain citizens (Straubhaar, 2017). UBI implies categorical cash payment flowing on a month- by- month basis to all citizens from the nation’s budget. Funds are transferred from the public accounts to private citizen accounts right from their birth until death; recipients need not apply or be qualified for any preconditions in order to enjoy this benefit. The amount paid ought to incorporate the sociocultural maintenance minimum. But ascertaining this minimum subsistence level remains a political, rather than economic decision. In this paper, a case is made against the UBI, established by utilizing supportive arguments.
Arguments against UBI
UBI entails robbing the poor of their money and distributing it among everybody. Such an act will serve to only increase destitution, denying necessary targeted support to the poor. Poverty-ridden individuals encounter various adversities addressed via extant anti- poverty mechanisms like food stamps, child assistance and medical assistance. UBI initiatives typically make use of finances targeting lower social classes and distribute it to the whole society (ProCon.org., 2017). They are costlier as compared to focused welfare initiatives owing to several individuals lacking more than mere cash. This system fails to tackle other issues like addiction, lack of ability and sickness that play a role in promoting poverty.
UBI eliminates workers’ motivation to work, thereby having negative impacts on the economy, as well as resulting in a dearth in skills and human resources. Earned income inspires individuals to put in efforts, achieve success, acquire capabilities and collaborate with peer. But if society is paid unconditionally...
References
Elbow, P. (2006). The believing game and how to make conflicting opinions more fruitful. Nurturing the Peacemakers in Our Students: A Guide to Teaching Peace, Empathy, and Understanding, 16-25.
ProCon.org. (2017, September 18). Universal Basic Income - Top 3 Pros and Cons. Retrieved from http://www.procon.org/headline.php?headlineID=005363 on 18 October 2017
Reed, H., & Lansley, S. (2016). Universal Basic Income: An idea whose time has come? London: Compass.
Robins, P. K., Spiegelman, R. G., & Weiner, S. (Eds.). (2013). A guaranteed annual income: Evidence from a social experiment. Elsevier.
Straubhaar, T. (2017). On the Economics of a Universal Basic Income. Intereconomics, 52(2), 74-80.
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