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%
Behind the sensationalist headlines about the largest pullback in US history, there’s a lot of nuance and complexity, but the overall message is clear: the US economy is in big big trouble, especially the services sector. Economics Explained takes a deep dive and asks the question: is this the end of an empire?.
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I’m a huge fan of GiveDirectly, who does tremendous work with direct cash transfers for people in poverty — essentially, micro-scale experiments in Universal Basic Income, with long-term data impact studies. As they describe themselves: GiveDirectly is the first — and largest — nonprofit that lets donors like you send money directly to the world’s poorest. […]
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If you want swole arms cut like tree trunks, you start savaging the curl bars. If you want to sculpt a tight, firm core, you have lots of planking and bridges in your future. So what do you do if you want to knock out that double chin? Or put a little added definition into […]
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