Universal Basic Income (UBI) is defined as an unconditional source of income for all residents of a country. In recent years, the proliferation of automation serving the needs of companies and sending many skill-based workers into unskilled labor markets has been a catalyst for the recent conversations among Tech executives about the possibility of whether or not a Universal Basic Income is feasible this day in age. The concept is nothing new. America has flirted with the idea and also tested it within small samples of the population to gather data on the effects of it. Without a clearly defined goal of why this concept of Universal Basic Income should be implemented, the proponents of it will never be sure on exactly how to introduce it. Conversations about UBI always leads to conversations about the drawbacks or fears associated with it. One fear that arises is that it could disincentivize a person to work or seek employment. Another fear is the likelihood of having to remove all the current safety net programs of the US govt. in order to fund it. Its important to realize that the progress of expanding the concept must be incremental and that the prospective recipients must be clearly defined in order to mitigate the damage that could arise from everyone receiving an unconditional income. But first, the goal of a Universal Basic Income must be realized before anything. Is it for stimulating the economy, reducing crime, or increasing general well-being? It could be all of those things, however, the first option of the UBI serving as an individual economic stimulus could be very feasible. An income package could be assigned to anyone who has just graduated college. This serves as a starting point and also as an immediate catalyst for an increase in the demand for education. The income for new college graduates would be ongoing except in the event of a pregnancy or marriage as those institutions already serve as a driver of individual economic demand and thus make universal basic income less relevant to the goal of stimulating the economy in areas where it didn't before. Another scenario for discontinuation of Universal Basic Income would be leaving the country for a year....mainly due to the fact that economic stimulus should serve the country that it comes from. Now, with this income, college grads have the time to innovate without having to lose time by expending excess energy on meeting basic needs. With terrorism and cyber-hacking at an all time high, the increase in intelligence and methods to stop these cancers on civilized society has become all-important along with innovation leading to new industries. The UBI for college grads opens the door for individuals to pursue many different avenues of creativity. Once the Dowcast is able to figure out the mystery of the stock market, its next step will be gathering the Chief Executive Officers from the top companies in the US to sit down and discuss the implementation of Universal Basic Income.
Universal Basic Income