Universal basic income: an idea whose time has come?7 min read 15 Sep 2016, 10:29 PM IST
While the academic debate gathers momentum in high-income countries, a discourse on UBI has also surfaced in a relatively poor country like India
Marx would have been pleased. Contrary to his prediction, the communist revolution never happened in advanced capitalist countries. However, the libertarians in these countries have now come together with the socialists and communists around the idea of a universal basic income (UBI). It is not quite the imagined utopia of the Communist Manifesto, “from each according to his ability to each according to his needs." But were it to come into existence, UBI would certainly be an important step towards that utopian dream.