A Food for Thought:
In Linkedin, quoting the source “Finland’s Ministry of Social Affairs and Health Report” a post from World Economic Forum says “ Finland is giving unemployed people $600 a month with no strings attached. Making it the first European country to test the idea of an unconditional basic income. Recipients say they are happier and healthier. .. More confident about the future and less stressed. 2000 people took part in the experiment over two years. The government wanted to see if the payment would encourage people to find a job and to compare a less bureaucratic model with the existing system. To see which was more effective. No one in the scheme was forced to look for work. But despite the extra money, there’s not been an uptick in employment. So the jury’s still out on whether offering a basic income works. A universal basic income has high-profile advocates like Facebook CEO Mark Zuckerberg. Finland’s study will offer more insights next year… As the experiment continues Do you think a basic income could reduce poverty?
Novel Idea with Universal Basic Income
Instead of giving 'free money' they can motivate the people to do some social activity. The precise amount should be decided based on their social activity. The measurable social activities can be : planting trees, helping elderly, teaching children, cleaning garbage, helping the differently- abled people etc. This can differ from region to region. That is the geography specific activity index should be created and people must get credit points for their selfless service. Then based on the cumulative points earned, it can be redeemed in the form of cash every month. For example a person with 1000 points must get $ 1000 similarly a man with 200 points should get only $ 200. This kind of incentivized model will do more benefit to the people and the nation instead of throwing equal amount to everybody's pocket. I guess, most these kind of 'free money' will directly increase the consumption rate of alcohol, cigarettes etc. Because, the recipients won't understand the value of money. It should be always be 'EARNED.' In that case, the exceptions can be given to the elderly and physically disabled people.
What do you think about this?
by
Srini