The Basic Income Guarantee (BIG) recently became a part of a flurry of discussion on the internet and in the media, when Jesse A. Myerson, of Rolling Stone Magazine, included it in a list of “Five Economic Reforms Millennials Should Be Fighting For.” This ensuing discussion reveals a lot about the many different ways people see BIG.
In July 2013, Cypriot President Nicos Anastasiades announced the implementation of a “guaranteed minimum income,” but the president’s language was self-contradictory. The program was supposed to be a “guaranteed minimum income,” assuring “a dignified living, irrespective of age, class or […]
The Occupy Strategy Group has included the Basic Income Guarantee (BIG) on its top 10 list of recommended strategic objectives. The group is an email list of over 100 people who have met to craft strategy for the Occupy Movement. […]
Following a successful grass-root campaign, Switzerland will hold national referendum to vote on basic income.
A randomized field study recently conducted in Uganda found that giving money to people without conditions actually increases both how much they work and how much they earn per hour. The study gave a $400 one-time grant to 20 young people, chosen randomly out of a group of rural Ugandans who applied to be a part of the study. Essentially, this grant amount is a one-time basic income, sometimes called a basic capital grant.
The Alaska Permanent Fund (APF) has reached an all-time in a year in which Alaska’s Permanent Fund Dividend (PFD) will probably reach its lowest level since 1987. The PDF is Alaska’s small, variable, yearly basic income. It’s financed by the returns of the APF. You’d think, then, that the fund and the dividend financed by it would move up and down together. And they do—on average, over the long-run, with a time-lag. But they don’t necessarily move together in any particular year, and this year the difference is extreme.
Basic income is a regular unconditional cash grant paid to all citizens without any means test or work requirement. It’s often dismissed as a utopian idea. However, a basic income, or something very close to it, exists today in Alaska. It’s called the Permanent Fund Dividend (PFD) or sometimes “the Alaska Dividend.” The PFD has been paying annual dividends to Alaskans since 1982 with no conditions except citizenship, residency, and the willingness to fill out a form. After following the Alaska Dividend since 1999, and I want to share six lessons that supporters of progressive economic policy should learn from what I call “the Alaska model,” but first some basic background.
While voters of the United States were loudly debating gun control, the deficit, the debt, taxes, immigrant rights, the filibuster law, health care, and a host of other issues, the Obama administration quietly did something that would have been unthinkable a few decades ago. It ordered the military to allow women to serve routinely in combat units. Other changes that would have been unthinkable a few decades ago also seem to be underway.
The Governor’s Solution features his firsthand account (PDF) that describes, with brutal honesty and piercing humor, the birth of the Alaska Permanent Fund dividend, which has been paid each year to every citizen-resident of Alaska since 1982. This book, part […]
According to the Associated Press, the Alaska Legislature approved a measure to designate July 21 as Jay Hammond Day. As governor of Alaska from 1974 to 1982, Jay Hammond was instrumental in the creation of the Alaska Permanent Fund in […]