Why UBI is the next big thing...

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I have written about this concept earlier, however I write about this again. UBI stands for universal basic income, which means an income that you get only for being a citizen in the society.

This is helpful in two ways, one it helps them to move forward in life, without them having to worry about certain non calculative risks, that folks in the past took. Secondly, it provides them a strong foundation to become financially independant.

This sort of earnable contract between the governments and the common citizens, helps in ensuring a common ground for all.

Steps to implement

1. Create a token or participate in a community/community building exercise.

2. Implement it between a group of experts, who can verify.

3. Keep it simple.

A question necessarily arises, will not everyone be able to earn it equally?

The simple answer is yes, but with some amount of constraint. For example those folks who are well to do, and have enough assets will earn less as compared to the rest.

If we are to implement decentralization in our society, we have to start at the most grassroot level, and think about how we can solve the problems that a regular common person/individual faces in his/her life.

Some common problems faced by all individuals

Lack of adequate resources, or resource scarcity.

No proper governance.

Lack of awareness in the community, to understand the core issues, and develop a common understanding.

A sucessful UBI model will resolve these problems, thereby improving community participation.

Zakah a UBI model from the Islamic world

We often relate the concept of zakah or zakat as it is known in the arab world with the modern concept of charity. However, here I would like to share with you readers some points that will help you get rid of this misconception. Zakah is not just charity, but also encapsulates something much larger than charity and that is welfare of the state.

In an upcoming post, I'll discuss this in detail, pointing out religious sources, as well as contemporary practices in the islamic and arab world.

Similarly, we'll discuss other such models, and how we can adapt them to our modern society.

Have a good day

Note: All images are A.I generated using DALL E.



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1 comments
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(Edited)

We are lucky to have HSBI. Basic Income lifetime votes.

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