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Universal Basic Income, Possible Economic Policy Instrument Regarding Labour Market

Author

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  • DUTCAS, Monica Florica

    (Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania)

Abstract

The study addresses the possible effects of the implementation of the basic universal income on the balance between the demand and the supply of work, in the context of the fourth industrial revolution. Highlighting the economic growth determined by the technological evolution, questions are asked about the income inequalities and the implications on the labour market. Obviously, as an economic policy instrument the basic universal income establishes a direct causal relation with the standard of living of the human being, but it eliminates the causal relation between income and work, which implies a clear distinction from the minimum guaranteed income, the minimum guaranteed wage. The distinct conditions imposed by objectives, potential beneficiaries, institutional and financing mechanisms are highlighted, which determines different economic and social impact on the labour market.

Suggested Citation

  • DUTCAS, Monica Florica, 2019. "Universal Basic Income, Possible Economic Policy Instrument Regarding Labour Market," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 7(1), pages 42-51, October.
    • Handle: RePEc:vls:rojfme:v:7:y:2019:i:1:p:42-51
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    References listed on IDEAS

    as
    1. Scott Adams & David Neumark, 2005. "Living Wage Effects: New and Improved Evidence," Economic Development Quarterly, , vol. 19(1), pages 80-102, February.
    2. Olli Kangas & Miska Simanainen & Pertti Honkanen, 2017. "Basic Income in the Finnish Context," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 52(2), pages 87-91, March.
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    More about this item

    Keywords

    universal basic income; economic policies; labour market; income; wage;
    All these keywords.

    JEL classification:

    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
    • H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs

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