chapter  8
11 Pages

Universal basic income

A cornerstone of the new economic order
ByJohanna Perkiö

This chapter explores the potential of unconditional basic income a regular sum of money granted to all members of society as a right to serve as a tool for the transformation to a more egalitarian and ecologically sustainable economic order. Basic income is an idea of a regular flat-rate income transfer given unconditionally to every member of a political community, be it regional, national, transnational or global. The definition of basic income implies that it is granted to each and every individual regardless of their employment status, family relations or socio-economic position. The universality of basic income is sometimes questioned by those who otherwise support egalitarian policies and strong social rights. Welfare state institutions reflect the specific historical context of their creation, characterized by rapid economic growth, relatively closed national economies, full employment, and a seemingly limitless supply of natural resources.