A Basic Income Guarantee (BIG) ensures everyone an income sufficient to meet basic needs and live with dignity, regardless of work status.
A basic income guarantee is not the same thing as a guaranteed annual income.
Basic income is meant to help ensure the meeting of basic needs but for the “wants” in life, income from other sources is necessary.
The vast majority of people work to earn well beyond what they need for basics –
and many people who are well off remain in the workforce.
Moreover, by stabilizing financial security, basic income helps promote engagement in paid work of various kinds – with greater choice (freedom) as to the type of work. It also enables people to balance work in the labour market with the valuable work they do outside the market for family, friends and community.
For jobs that are comparatively unpleasant, employers may need to provide better working conditions, for example raising wages and providing attractive benefits.Follow Richard on: