Standing, Guy (2015) 'Why basic income's emancipatory value exceeds its monetary value.' Basic Income Studies, 10 (2). pp. 193-223.
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Abstract
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.
Item Type: | Journal Article |
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Keywords: | basic income, poverty, India |
SOAS Departments & Centres: | Legacy Departments > Faculty of Law and Social Sciences > Department of Development Studies |
Subjects: | H Social Sciences > H Social Sciences (General) |
ISSN: | 19320183 |
DOI (Digital Object Identifier): | https://doi.org/10.1515/bis-2015-0021 |
Date Deposited: | 18 Sep 2016 14:20 |
URI: | https://eprints.soas.ac.uk/id/eprint/23032 |
Related URLs: |
http://www.guystanding.com
(Author URL)
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