Last year, according to a recent study by Oxfam International, just eight people owned as much wealth as half of the world's population. That's bad. Many people suggest Universal Basic Income as a way to help solve that problem. My friend and Institute for the Future colleague Marina Gorbis suggests that we need something more — Universal Basic Assets. From her provocative essay on Medium:
The answer may be in the concept of Universal Basic Assets (UBA), which in my definition is a core, basic set of resources that every person is entitled to, from housing and healthcare to education and financial security…
In designing Universal Basic Assets we take into account access to traditional physical and financial assets like land and money, as well as the growing pools of digital assets (data, digital currencies, reputations, etc.). We also recognize and assign value to exchanges we engage in as a part of maintaining the social fabric of our society but that do not currently carry with them monetary value (caring, creative output, knowledge generation, etc.).
In essence, we need to look at the concept of assets in its broadest sense, considering three classes of assets: private, public, and open.
'Universal Basic Assets': A new economic model that could save the other 99%