Standing, Guy (2015) 'Why basic income's emancipatory value exceeds its monetary value.' Basic Income Studies, 10 (2). pp. 193-223.
- Accepted Version
Download (401kB) | Preview
This article argues that the emancipatory value of a basic income is greater than its monetary value, drawing on the results of a large-scale basic income scheme conducted in the Indian State of Madhya Pradesh between 2010 and 2013. The scheme was evaluated by comparing households in villages where everyone received a small cash payment each month with households in similar villages where no one did. The evaluation results showed much stronger than anticipated benefits of a very modest basic income, equivalent to about a third of subsistence. It is argued here that this arises because cash payments alleviate the contrived scarcity of money itself, a cause of chronic indebtedness and impoverishment. Using data and illustrative case studies on debt, savings and financial inclusion, the article demonstrates how a basic income improves economic security beyond its monetary value, which can be termed its emancipatory value. It further concludes that a basic income would have an emancipatory effect for the growing precariat around the world.
|Keywords:||basic income, poverty, India|
|SOAS Departments & Centres:||Faculty of Law and Social Sciences > Department of Development Studies|
|Subjects:||H Social Sciences > H Social Sciences (General)|
|DOI (Digital Object Identifier):||10.1515/bis-2015-0021|
|Depositing User:||Guy Standing|
|Date Deposited:||18 Sep 2016 14:20|
Accesses by country - last 12 months
Accesses by referrer - last 12 months