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What's your opinion on Unconditional Basic Income? (This is not Communism)

The Basic Income movement is one that is quickly gaining ground around the world. Both prominent right and left wing persons have given their support for this idea.

What's your thoughts on Basic Income, do you think it's a good idea?

http://en.wikipedia.org/wiki/Basic_income
http://www.reddit.com/r/BasicIncome/

EDIT: I forgot to mention (in case you haven't heard) that what sprout the movement was Switzerland's proposal for basic income ($2800 monthly). http://www.reuters.com/article/2013/10/04/us-swiss-pay-idUSBRE9930O620131004


EDIT 2: This is NOT meant as a universal cure for all the problems of the world, things like education, politics, corruption and deceases are separate issues (even though Basic Income might help with them) if you wish to solve those issues please join or start a conversation about those. However discussing them with respect of BI is very fine and encouraged.

Please try to NOT sway too far from the topic, which is "What's your opinion on Unconditional Basic Income?". Comments to others opinions are of course free to go far from the topic, but preferably not too far.

And please try to be constructive and mature in your comments to others on this conversation.

Also please read AT LEAST the provided Wikipedia article on Basic income as it will answer many questions posted here.


Thank you for reading this explanation...(?)

Topics: basic income
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Closing Statement from Jimmy Strobl

Wow, thank you ALL for your contributions to this conversation!

There's no way that I'm going to be able to summarize what was said here.
But I do feel that people might be ready for this transition or at least they are able to be convinced that it is feasible.

Anyway, thank you all for your participation and sorry for the lack of response the last few days.

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    Dec 20 2013: I think we need to consider a few things.

    First, let's take a look at the proposed benefits of unconditional income. Obviously, establishing an unconditional income would allow households to maintain a higher standard of living. In theory, this would also enable households to become more productive.

    However, the first counter to this theory is a question about whether or not the money would be used in productive ways. Unless the use of unconditional income was restricted, there is no way to ensure the resources were used to boost productivity.

    Second, what are the long-term sociological impacts of unconditional income? Would people become lazy? Would they be motivated to work at all? Would this impact people's motivation to start new businesses or work harder to improve their standard of living? In the long-run, what are the impacts on society in general?

    Personally, I don't think this is the right way to go. We need to provide opportunities for people to succeed. This requires government to take steps toward boosting the country's economy and build infrastructure that works. This seems like a very sloppy way to manage a country's finances.

    I don't think this is a sustainable way to provide for people. In the end, I believe this will cause severe problems.
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      Dec 20 2013: It seems that corruption will always play a part. What's to keep it in balance? Morals, ethics? The state?
      I think people just need to agree to do the right thing, naïve as it seems. I prefer not to live in fear, you got to take risks and lead to get people to trust. It's tough being the leader everyone is watching. I guess it just comes back to ethics and morals.
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      Dec 20 2013: What do you really mean by "productivity"? Think of the vast variety of well-paid jobs that add absolutely nothing in terms of productivity.
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        Dec 23 2013: arbitrage being at the top of that list and only introduces more cost to everything.
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      Dec 23 2013: The research has been done and done again in a number of countries and various forms of GI 's have been in existence for ages now with pensions of all kinds leading the parade. The information is but a google away and some very good links can be found in this thread.

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