Globalisation, technological change, and the move to flexible labour markets has channelled more and more income to rentiers - those owning financial, physical, or so-called intellectual property - while real wages stagnate.

Guy Standing

Categorized in : More Change Real Intellectual

The evidence shows if you give people security, they become better people. They develop their talents. They become better citizens.

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We are in an era of chronic insecurity and growing inequalities. In that context, we need to have new mechanisms for income distribution which give people a sense of security.

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Means-tested benefits have one incredible feature in that they impose huge poverty traps.

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If you had a basic income, it would mean that everybody would have a base on top of which their earned income would be taxed at the standard rate of tax. That would increase the incentive to take low-wage jobs.

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I don't see basic income as a panacea, but we must have a new income distribution system. The old one has broken down irretrievably.

down new see broken