Basic income is a concept of a universal and unconditionalcash benefit provided to all individuals, without any means test or work-relatedrequirement. The struggles of modern states in sustaining the current socialwelfare models has resulted in the search for long term alternatives, whichhassled to the popularity of basic income in recent decades.Due to its equal and comprehensive nature, many havechampioned the basic income idea to promote fairness in income distribution andtotal coverage. On the other hand, there are strong criticisms against a basicincome both on ethical and financial levels. The everlasting conflict ofproviding an income to every individual even if they are not willing tocontribute to society, versus the right to a basic living standard and freedomto work has been discussed. The criticisms and ethical justifications of thesystem are provided for review. Notwithstanding, financial criticisms, fundingproblems and adequacy of a basic income scheme is also discussed along with thecounter arguments and possible solutions. International applications andexperiments in basic income are also briefly presented and their results arecommented on.In conclusion, some variations of basic income aresuggested as suitable to solve today’s social security struggles. First, it isdeduced that basic income could be a supplemental benefit and not a replacementto modern social security schemes due to distribution and funding issues.Secondly, a partial basic income is possible to implement in state ownednatural and national resources. And finally, basic income is suggested as anefficient tool to tackle unemployment caused by disappearing professions as aresult of technological advancements.
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