from the world's big
Can't the U.S. be a little more like Scandinavia in its ethos? Fixing inequality in America will take more than economic reform, it will also need a cultural shift.
From a human rights and decency standard, everybody in a society should be able to meet their basic needs, says economist and Columbia professor Jeffrey Sachs – but he questions whether a popular proposal known as Universal Basic Income (UBI) is the way to achieve a better standard of living in the U.S. At its simplest, UBI is an unconditional base salary that is paid to all citizens of a society, no matter their employment status, current wealth, attempts to gain work, and regardless of how they intent to spend it. Sachs sees the value in the idea, but isn’t confident in the proposal’s no-strings-attached nature – will some people coast for free off the hard work of others? A guaranteed basic income experiment known as ‘Mincome’ in Canada in the 1970s showed a just a 9% reduction in working hours among two main groups of citizens: new mothers, using their additional income to extend their maternity leaves and spend more time with their infants, and teenage boys who were using that income to stay in school. A new UBI trial is planned for 2017 in Ontario, and many nations await the results.