The Theory Of Basic Income - 945 Words

Introduction Basic income has been an increased topic of debate in Canada during the last decades. Basic income is a form of social security that grants all citizens an unconditional income. Tony Fitzpatrick, a PhD on the topic of basic income (1999), claims that the radical right is a strong opposer to basic income because of their belief that basic income maintains a high possibility for abuse. In contrast, Daniel Raventà ³s (2007) , a professor of the department of sociological theory at the faculty of economics and business at the University of Barcelona , claims that the left supports adopting a basic income policy because they believe that it would efficiently reduce poverty gaps . I argue that employing a basic income in Canada would serve the country positively by giving individuals a chance to get back on their feet, countering the radical right ideologies that basic income is just a chance for individuals to abuse the system. This paper will first examine the issues from an economic perspective. It will then examine the social benefits and possible downfalls of a basic income. Finally, it will evaluate basic income from individual political agendas. The implementation of a basic income : From an Economical perspective Fitzpatrick (1999) suggests that the radical right believes that introducing a basic income would get rid of people’s need to work, therefore reducing people’s economic success and opening not only them, but their nation, up for financialShow MoreRelatedEssay on Keynesian Revolution1244 Words   |  5 PagesKeynesian Revolution Classical economic theory assumed that a ‘free-market’ economy is a ‘self regulating’ system that continually tends toward a full-employment equilibrium, with optimum economic benefits for everyone. Therefore, the best government economic policy is to ‘excuse itself’ and give utmost freedom to individual enterprise. 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