Humanity has tried many economic models over the time of its existence, but only one of them really stood out. Although in a variety of forms over time, Capitalism has enabled the biggest innovation and progress in human history supply and demand has offered more people more things, but there’s a problem.
Capitalism leaves many people vulnerable, whether that’s poverty, lack of time due to exhausting working hours and etc, it seems like there is one more thing to add to Capitalism to make it really work for everyone, something called Universal Basic Income (UBI).
A Universal Basic Income, is a type of program in which all citizens of a country may receive a regular sum of money by the government. UBI is unconditional so all citizens should be receiving it, without any questions asked.
UBI is proved to get all people above the poverty line, boost the country’s economy, boost innovation and increase productivity.
Universal Basic Income is also proved to reduce crime by 40 percent and even reduce work-related stress and improve the health of all people, as it feels like a safety layer, something that in case something goes wrong, will be there to help the situation.
The article 25 of the universal declaration of human rights says that “Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family,” it continues:
“including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.”
A universal basic income can fulfill many currently unfulfilled human rights by giving people a minimum of consuming power, all the facts makes us conclude that a Universal Basic Income (UBI) can really save and perfect Capitalism.