Basic income 24

Basic income is an idea for a long-term, sustainable future for the world's poor. But with a UBI already in place in the European Union and others, what's needed now is the ability to scale it up to help the world's poor achieve a basic standard of living – for example, by providing a universal minimum pension. And with a UBI, the question is, what kind of universal pension should be offered?

As we get closer to a global UBI, it becomes obvious that a universal basic income is the most efficient means of improving people's lives and reducing their poverty. As the world is becoming richer, poverty in some countries is now growing faster than at any time since the Second World War. In 2011, the World Bank estimated that by 2050, the amount of "poverty-related deprivation" will increase by 70% (in 2012, the annual rate of global poverty was 11.4%, up from 7.2% in 1990). For the poorest 15% of the population, poverty rates have doubled since 1978: one out of three of those living in the lowest ten% in 2000 now live below 200% of the median income.

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