<h3 id="title0">​What is universal basic income?</h3>
​Universal basic income (UBI) is a system in which every adult receives a set amount of money on a regular basis. This payment is unconditional, meaning it does not depend on the recipient's income, employment status, or any other criterion.
Universal&ndash; to everyone
Basic&ndash; to cover everyday expenses
Income&ndash; regularly, for people to spend how they wish.
UBI has been an interesting and controversial topic of conversation over the past few years, with various trials and studies conducted to evaluate its potential impact. While we may be a long way off from this being considered in reality, let&rsquo;s look at some of the pros and cons of introducing this concept.
<h3 id="title1">​Pros of universal basic income</h3>
<h4>Reduce poverty</h4>
One of the main arguments in favour of UBI is its potential to reduce poverty and economic inequality. A&nbsp;<a href="https://www.york.ac.uk/news-and-events/news/2022/research/basic-income-could-cut-poverty/#:~:text=A%20new%20universal%20basic%20income,poverty%20and%20working%2Dage%20poverty." target="_blank" rel="noopener" aria-label="2022 study - open in a new tab">2022 study</a>&nbsp;by the University of York found that a UBI model could cut poverty by more than half. This would be achieved through tax adjustments and guaranteed weekly payments, providing a stable income for everyone. This stability could lead to a more robust economy, increased consumer spending, more job opportunities, and a healthier market overall.
<h4>Increased consumer spending</h4>
With more disposable income, people would likely spend more, stimulating demand for goods and services and benefiting businesses across various sectors. This increased spending could also lead to higher tax revenues, which could be reinvested into public services and infrastructure.
<h4>Empowering workers</h4>
UBI would offer a safety net, reducing the pressure on individuals to accept low-paying or precarious jobs. This could lead to higher job satisfaction and productivity, as people would be more likely to pursue jobs that align with their interests.
<h4>Improve workplace conditions</h4>
It would also encourage businesses to enhance their working conditions by shifting the power dynamic to the employees. With a guaranteed income, workers would no longer be compelled to stay in jobs solely for financial reasons, allowing them the freedom to leave roles with poor working conditions.
This shift in bargaining power would encourage employers to enhance job quality, offer higher wages, and create more supportive work environments to attract and retain employees. Consequently, businesses might need to implement more employee-focused policies, such as flexible working, improved benefits, and a stronger emphasis on work-life balance, to stay competitive in the labour market.
<h4>Innovation and entrepreneurship</h4>
Many people hesitate to start their own businesses due to fear of failure and financial risks. However, UBI could provide the financial stability needed to encourage entrepreneurship and innovation, potentially resulting in economic growth for the country. This could lead to the creation of new industries and job opportunities, further boosting the economy.
<h4>Foster education and societal benefits</h4>
Having a steady income would encourage more individuals to pursue further education and training, culminating in a more educated and skilled population. This increase in educational attainment can have numerous positive effects on society, including:
Higher civic engagement:&nbsp;an educated population is more likely to participate in civic activities such as voting, volunteering, and community involvement, fostering a stronger democratic process and community cohesion.
Enhanced critical thinking and creativity:&nbsp;education cultivates critical thinking and creativity, which are essential for technological innovation and economic growth.
Reduction in poverty and inequality: education is a powerful tool for breaking the cycle of poverty. By providing individuals with the skills and knowledge needed to secure better-paying jobs, UBI can help reduce income inequality and improve overall economic stability.
Improved public health:&nbsp;educated individuals are more likely to make informed health choices, meaning lower rates of chronic diseases and improved overall public health.
<h3 id="title3">​Cons of universal basic income</h3>
<h4>High cost</h4>
Implementing UBI would be extremely expensive, requiring significant tax increases and reallocation of public spending. While it's challenging to estimate the exact cost,&nbsp;<a href="https://www.microsimulation.pub/articles/00286#:~:text=The%20net%20cost%20of%20this,cost%20(%C2%A3472%20billion)." target="_blank" rel="noopener" aria-label="one analysis - open in a new tab">one analysis</a>&nbsp;projected a gross cost of $631 billion &ndash; which includes the UBI payments themselves as well as the cost of integrating it into the existing tax and benefits system. Therefore, many critics argue that for this reason, UBI is not sustainable or even feasible.
<h4>Decreased motivation to work</h4>
Critics argue that UBI could reduce people's incentives to work, prompting higher unemployment rates. They fear that with a guaranteed income, people might choose to work fewer hours or not at all. If this were the case, higher unemployment rates could negatively impact economic growth due to less taxable income.
Those who do continue working while receiving UBI might be less motivated to perform at their best. With their basic financial needs met by UBI, the urgency to excel and advance in their careers could diminish and we could see reduced effort and productivity.
<h4>Challenges for low-wage industries</h4>
Industries relying on low-wage labour might face increased wage demands, as workers with a financial safety net might be less willing to accept low-paying jobs. This could cause higher operational costs and potentially drive businesses to automate more processes.
<h4>Inflation</h4>
Increased disposable income could generate higher spending, driving up demand and prices, resulting in inflation. This could erode the purchasing power of the UBI payments, potentially negating some of the benefits.
<h4>Potential inequality</h4>
While UBI aims to reduce poverty and inequality, some argue that providing the same payment to everyone wouldn't solve inequality but merely shift the goalposts. Critics suggest that a more targeted approach might be necessary to address the specific needs of different groups within society.
The debate around UBI is far from settled, and its implementation would require careful consideration and robust policy design. As we move forward, it's important to engage in thoughtful discussions, consider diverse perspectives, and explore pilot programmes to better understand UBI's real-world impacts.
Ultimately, the question remains: can UBI be the transformative solution we need to fix the unstable labour market, or will it prove too costly and complex?
If you are looking for a talented professional to join your team, or seeking a new employment opportunity yourself,&nbsp;<a href="https://www.reedglobal.us">get in touch with a specialist consultant today.</a>

<h3 data-start="514" data-end="554">&iquest;Qu&eacute; es el ingreso b&aacute;sico universal?</h3>
El ingreso b&aacute;sico universal (IBU) es un sistema en el cual cada adulto recibe una cantidad fija de dinero de forma regular. Este pago es incondicional, lo que significa que no depende del ingreso, estado laboral u otro criterio del beneficiario.
<ul data-start="803" data-end="951">
<li data-start="803" data-end="833">
Universal &ndash; para todos
</li>
<li data-start="834" data-end="880">
B&aacute;sico &ndash; para cubrir gastos cotidianos
</li>
<li data-start="881" data-end="951">
Ingreso &ndash; regular, para que las personas lo gasten como deseen
</li>
</ul>
El IBU ha sido un tema interesante y controvertido en los &uacute;ltimos a&ntilde;os, con diversas pruebas y estudios realizados para evaluar su impacto potencial. Aunque a&uacute;n estamos lejos de implementarlo en la pr&aacute;ctica, veamos algunos de los pros y contras de introducir este concepto.
<h3 data-start="1233" data-end="1274">Ventajas del ingreso b&aacute;sico universal</h3>
Reducir la pobreza Uno de los principales argumentos a favor del IBU es su potencial para reducir la pobreza y la desigualdad econ&oacute;mica. Un estudio de 2022 de la Universidad de York concluy&oacute; que un modelo de IBU podr&iacute;a reducir la pobreza a la mitad. Esto se lograr&iacute;a mediante ajustes fiscales y pagos semanales garantizados, proporcionando un ingreso estable para todos. Esta estabilidad podr&iacute;a llevar a una econom&iacute;a m&aacute;s s&oacute;lida, mayor consumo, m&aacute;s oportunidades laborales y un mercado m&aacute;s saludable.
Mayor consumo Con m&aacute;s ingresos disponibles, las personas gastar&iacute;an m&aacute;s, lo que estimular&iacute;a la demanda de bienes y servicios y beneficiar&iacute;a a las empresas de diversos sectores. Este aumento en el consumo tambi&eacute;n podr&iacute;a generar mayores ingresos fiscales que podr&iacute;an reinvertirse en servicios p&uacute;blicos e infraestructura.
Empoderamiento laboral El IBU ofrecer&iacute;a una red de seguridad, reduciendo la presi&oacute;n por aceptar trabajos mal remunerados o precarios. Esto podr&iacute;a mejorar la satisfacci&oacute;n y productividad laboral, ya que las personas se enfocar&iacute;an en trabajos que se alinean con sus intereses.
Mejora de condiciones laborales Al invertir la din&aacute;mica de poder hacia los trabajadores, el IBU podr&iacute;a motivar a las empresas a mejorar las condiciones laborales. Con un ingreso garantizado, los empleados no estar&iacute;an obligados a permanecer en trabajos con malas condiciones solo por necesidad financiera. Esto obligar&iacute;a a los empleadores a ofrecer mejores salarios y condiciones para atraer y retener talento.
Innovaci&oacute;n y emprendimiento Muchas personas dudan en emprender por miedo al fracaso financiero. El IBU podr&iacute;a ofrecer la estabilidad necesaria para fomentar el emprendimiento, lo que contribuir&iacute;a al crecimiento econ&oacute;mico y la creaci&oacute;n de nuevos sectores y empleos.
Fomento de la educaci&oacute;n y beneficios sociales Un ingreso estable permitir&iacute;a a m&aacute;s personas acceder a estudios y capacitaci&oacute;n. Esto derivar&iacute;a en una poblaci&oacute;n m&aacute;s calificada, con beneficios como:
<ul data-start="3281" data-end="3402">
<li data-start="3281" data-end="3311">
Mayor participaci&oacute;n c&iacute;vica
</li>
<li data-start="3312" data-end="3352">
M&aacute;s pensamiento cr&iacute;tico e innovaci&oacute;n
</li>
<li data-start="3353" data-end="3380">
Reducci&oacute;n de la pobreza
</li>
<li data-start="3381" data-end="3402">
Mejor salud p&uacute;blica
</li>
</ul>
<h3 data-start="3409" data-end="3453">Desventajas del ingreso b&aacute;sico universal</h3>
Alto costo Implementar el IBU ser&iacute;a extremadamente caro, requiriendo aumentos fiscales significativos y reasignaciones presupuestarias. Un an&aacute;lisis estim&oacute; su costo bruto en 631 mil millones de d&oacute;lares, lo cual hace que muchos lo consideren insostenible o inviable.
Menor motivaci&oacute;n para trabajar Algunos cr&iacute;ticos argumentan que el IBU podr&iacute;a reducir el incentivo para trabajar, generando mayor desempleo. Al contar con un ingreso garantizado, algunas personas podr&iacute;an reducir sus horas laborales o dejar de trabajar, afectando el crecimiento econ&oacute;mico y la recaudaci&oacute;n fiscal.
Desaf&iacute;os para sectores de bajos salarios Industrias que dependen de mano de obra barata podr&iacute;an enfrentar demandas salariales m&aacute;s altas, ya que los trabajadores no aceptar&iacute;an f&aacute;cilmente empleos mal remunerados. Esto podr&iacute;a aumentar los costos operativos e incentivar la automatizaci&oacute;n.
<h3 data-start="4339" data-end="4479">Inflaci&oacute;n</h3>
El aumento del consumo podr&iacute;a generar inflaci&oacute;n, reduciendo el poder adquisitivo del IBU y anulando parte de sus beneficios.
Posible desigualdad Aunque el IBU busca reducir la desigualdad, algunos sostienen que entregar la misma cantidad a todos no aborda las diferencias reales entre los grupos sociales. Podr&iacute;a ser necesario un enfoque m&aacute;s personalizado.
El debate sobre el IBU est&aacute; lejos de resolverse. Su implementaci&oacute;n requerir&iacute;a un dise&ntilde;o de pol&iacute;ticas s&oacute;lido y pruebas piloto. Es fundamental considerar distintos puntos de vista y analizar su impacto en el mundo real.
En definitiva, la pregunta sigue abierta: &iquest;Puede el IBU ser la soluci&oacute;n transformadora que necesita el inestable mercado laboral, o ser&aacute; simplemente una utop&iacute;a demasiado cara y compleja?
&iquest;Est&aacute;s buscando un profesional con talento para unirte a tu equipo o una nueva oportunidad laboral? Ponte en contacto hoy con uno de nuestros consultores especializados.

Universal basic income (UBI) is a heavily contested topic of conversation. Could it be the answer to unemployment, economic instability, and poverty, or is it too expensive and likely to cause greater unemployment rates? Here we look at some of the pros and cons of UBI and its potential impact on the labour market.

El ingreso básico universal (IBU) es un tema ampliamente debatido. ¿Podría ser la solución al desempleo, la inestabilidad económica y la pobreza, o es demasiado costoso y podría aumentar las tasas de desempleo? Aquí analizamos algunas de sus ventajas y desventajas, y su posible impacto en el mercado laboral.

Ventajas y desventajas del ingreso básico universal: ¿solución al desempleo o demasiado costoso?