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Basic Income, Basic Issues

Daniel Raventós & Julie Wark

Europe is an outsized indicator of the “shocking levels” of worldwide inequality. OXFAM’s September 2015 press release, “Increasing Inequality Plunging Millions More Europeans into Poverty”, makes a stark comparison between the “123 million people – almost a quarter of the EU’s population – at risk of living in poverty and its 342 billionaires”. Other reports show how, worldwide, the fortunes of the mega-rich have soared during the crisis, a situation summed up in the notorious statistic “Richest 1% Will Own More Than All the Rest by 2016”. The socioeconomic effects of this indecent inequality and how to deal with them are widely discussed and one product of the debate is a fast-expanding interest in the universal, unconditional basic income, which is usually presented as a measure for combatting poverty.

But basic income is much more than that because it addresses the basic human right without which all other rights are impossible: the right to material existence. Indeed, basic income itself is recognised as a human right in Article 1.3 of the Universal Declaration of Emerging Human Rights, Monterrey 2007:

The right to basic income, which assures all individuals, independently of their age, sex, sexual orientation, civil status or employment status, the right to live under worthy material conditions. To such end, the right to an unconditional, regular, monetary income paid by the state and financed by fiscal reforms, is recognised as a right of citizenship, to each resident member of society, independently of their other sources of income, and being adequate to allow them to cover their basic needs.