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Look, I’ll be straight with you. “Universal Basic Income” is in substance the same thing as “handouts.” The only difference is in the tone and connotations of the phrase you choose to use. “Handouts” has overwhelmingly negative connotations of “free stuff for lazy people,” while “Universal Basic Income” has connotations of a futuristic economic policy that will solve a lot of societal problems.
You can use many words to describe something like this. Stipend. Dividend. Stimulus. Welfare. The dole. They all walk the same but each carries different baggage.
So I think the person above you was a little silly to say it’s NOT a handout. Sure it is. But it’s a humane and well planned handout designed to reduce suffering and stimulate the economy -not the unwashed masses robbing the country blind.
Let’s all just say what we think of such policies instead of letting connotations do the work for us.
Personally, I’m excited to see any program like this of such a size, and especially in a country I have been to and know a little about. Let’s see how it plays out. UBI could be awesome and it could be a blind alley where the funds just cause inflation and the benefits are short lived. We have to see.
Allowance. Patronage. Sponsorship. Trust fund payout.
From all the -- granted, limited -- data we have UBI is an absolute win, mostly because it allows people to make long-term plans and investments. People living paycheck to paycheck might be easy to exploit, but they're also not very economically productive. And, no, despite all that neolib propaganda exploiting people to bolster stock market valuation has never led to macroeconomical productivity. The increases we had were despite the exploitation, not because of it.
Contrast with microcredit, which has a spotty at best track record. And that's before loan sharks got into the business.
I agree, it is a moot point.