Keynes, Piketty, and Basic Income

Crocker, Geoff

doi:10.1515/bis-2015-0015

Cited by 7 publications

(5 citation statements)

References 5 publications

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“…In the UK, between 1980 and 2011, wage share of output fell from 59.1% to 53.7%. Between 1990 and 2009, the median wage across the OECD member states declined from 66.1% to 61.7% 49 . In the Anglophone, governments have displayed a stubborn reluctance to apply fiscal measures against the richest in society.…”

Section: The Economic Dimension Of the Problemmentioning

confidence: 99%

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The São Paulo Declaration (1998): Nothing Dates More Rapidly than the Present

Rojek¹,

Castilho

2018

Motriz: rev. educ. fis.

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The Sao Paulo Declaration (1998) committed leisure professionals to extending Rights, Inclusion and Social Order in leisure customs and practice. The engine for this intervention consisted of the twin processes of globalization and cosmopolitanism. Both were seen as dissolving economic and political barriers. The Declaration did not make use of the term 'world society'. On the other hand it clearly defined itself to be part of a global movement that addressed leisure for all. In the last 20 years, the progress made n fulfilling the terms of the Declaration has been disappointing. Economic barriers of wealth inequality and uneven development in globalization and cosmopolitanism have blocked many aspects of the Rights, Inclusion and Order articulated in the Declaration. This paper examines how far globalization and cosmopolitanism have progressed in achieving the principle that 'all persons have the right to leisure.' It examines data on wealth inequality, debt and unemployment rates to consider some of the concrete impediments. It concludes by maintaining that there is a need to go beyond the Sao Paulo Declaration by addressing the economic and political barriers that currently prevent leisure from being a right for all.

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Section: The Economic Dimension Of the Problemmentioning

confidence: 99%

“…The recession has been far more severe and protracted than the economic contractions of 1974-76 and 1980-82 38 . In the 18 months after the recession, US GDP declined by 4.1%; UK GDP fell by 6.3%; and US investment fell by 23.4% 39,40 . The fall in real wages translates into a reduction in macroeconomic demand.…”

Section: The Economic Dimension Of the Problemmentioning

confidence: 99%

The São Paulo Declaration (1998): Nothing Dates More Rapidly than the Present

Rojek¹,

Castilho

2018

Motriz: rev. educ. fis.

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“…According to Neo-classical Economic theory, unemployment can be reduced if workers reduce their wage levels, thereby creating labour market opportunities to be hired, like during the Great Depression period in the United States of America (USA) and Europe in 1929 (Frank, 2008;Lansely & Reed, 2013). Contrary to the Neoliberal Economic theory, the Keynesian analytical concept emphasizes a multiplier effect on the economy as wage earners spend income to stimulate economic growth and reverse the unemployment trajectory (Crocker, 2015;Keynes, 1936). It means that the availability of income to a populace leads to human consumption, thus creating demands for goods and services, which consequentially makes employment and job-creation opportunities.…”

Section: Literature Reviewmentioning

confidence: 99%

Can a Basic Income Grant Improve the Quality of Life for the Poor in South Africa: An Analytical Review

Makole

Ntshangase

Maringa

et al. 2022

BEL

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The relevance of this scientific problem is that there are numerous calls and arguments from civil society organisations, labour unions, progressive economists, and policy experts to the South African government regarding the introduction of basic income grant. This will help protect the unemployed from poverty and stimulate economic growth. Systematization of the literary sources and approaches for solving the problem of improving the quality of life of the poor indicates that the government (led by the African National Congress) since 1994 implemented a social security policy (the child support grant for women). At the same time, the government’s position regarding the feasibility of introducing of basic income grant as a tool for economic stimulation has changed. The African National Congress disagrees with the need for basic income grant as a tool for poverty alleviation and economic growth. The main purpose of the research is the analysis of the prerequisites for the change in the position of the African National Congress regarding the feasibility of introducing basic income grant: basic income grant is a tool for stimulating economic growth and overcoming poverty for most of the disadvantaged population of South Africa, or a means for the government to preserve its positions, which are weakening among the South African electorate. The paper presents the results of an empirical analysis, which proved that basic income grant will contribute to the increase of the national tax base as those not earning an income can start buying and selling goods and be taxed. At the same time, at the initial stage, the introduction of basic income grant will lead to an increase in the level of income taxation of the employed population. Analytical methods of scientific literature analysis became the methodical tools of the conducted research. The research empirically confirms and theoretically proves that the introduction of basic income grant could stimulate the economy by ensuring that the unemployed become economic participants by having disposable cash to spend and start business activities.

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“…Microsimulation models utilise data on household incomes; UK models use the Family Resource Survey, which captures the financial position -and other characteristics that jointly determine personal income tax liabilities and benefit entitlements -of 20,000 households. There may be strong arguments in favour of funding BI through alternative sources of tax revenues -including those relating to the accrual of economic 'rents' (Standing, 2017) and Crocker's (2015) neo-Keynesian approach to money creation. In other words, the applicability of the trilemma is restricted to the prevailing status quo of social security financing arrangements, and does not extend to more radical financing proposals.…”

Section: Limitations Of the Approachmentioning

confidence: 99%

A Basic Income Trilemma: Affordability, Adequacy, and the Advantages of Radically Simplified Welfare

Martinelli

2019

J. Soc. Pol.

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As basic income (BI) has ascended the policy agenda, so proposals have come under increasing scrutiny for their affordability and adequacy for meeting need. One common objection to BI has been that it is impossible to design a scheme that simultaneously conforms to these two criteria. In this article, I develop a conceptual framework for analysing the trade-offs that afflict BI policy design. I suggest that while the idea of a policy dilemma between affordability and adequacy does indeed afflict ‘full’ BI schemes, it is possible to design an affordable and adequate ‘partial’ BI scheme. However, this comes at the cost of (at least partly) forfeiting some key advantages that motivate interest in BI in the first place, since these only arise as a consequence of the elimination of means testing and related conditionality from the welfare system. Thus, BI proponents face a three-way trade-off in policy design between affordability, adequacy, and securing the full advantages of BI as a radical simplification of existing welfare policy. The trilemma is illustrated with reference to original microsimulation evidence for the UK, which demonstrates that at most two of the three criteria can be achieved in a single scheme.

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Keynes, Piketty, and Basic Income

Cited by 7 publications

References 5 publications

The São Paulo Declaration (1998): Nothing Dates More Rapidly than the Present

The São Paulo Declaration (1998): Nothing Dates More Rapidly than the Present

Can a Basic Income Grant Improve the Quality of Life for the Poor in South Africa: An Analytical Review

A Basic Income Trilemma: Affordability, Adequacy, and the Advantages of Radically Simplified Welfare

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