Economics Essay: Evaluating Universal Basic Income

This essay delves into the concept of Universal Basic Income (UBI), examining its purpose through a critical thinking lens. It analyzes claims and statements made in a case study, evaluating the validity of arguments surrounding UBI's potential impacts. The essay explores the role of UBI in addressing societal challenges such as automation, unemployment, and the economic effects of events like the COVID-19 pandemic. It dissects the core components of UBI, including unconditional income, automatic payments, and individual rights. The essay also evaluates different perspectives on UBI, considering the potential benefits and drawbacks of such a system, including its implications on financial stability, working conditions, and social welfare. The analysis further considers the influence of factors like age, skills, and citizenship on the effectiveness and fairness of UBI programs. Overall, the essay aims to provide a comprehensive understanding of UBI and its implications for individuals and society.

Universal Basic Income

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Purpose of applying critical thinking to the case study...............................................................1
Claims, assertion and statements made and their validity...........................................................2
Evaluation of ideas expressed in the case study..........................................................................4
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
A critical thinking is basically an analysis that is established by measuring different facts
and figures as in terms of a judgement (Paul and Elder, 2019). It is actually a intellectual
discipline procedure of synthesizing, applying, gathering, reflection, reasoning and
communication is transferred under a standardise set of actions and belief. Critical thinking assist
to make careful changes and interpretation of acquisition data and information (Elder and Paul,
2020). It is vital tool of learning and processing with better interaction and communication that
aid to deepen basic concepts. The report below consist of purpose of applying critical thinking,
claims, assertion and statements that assist validity and evaluation of ideas about universal basic
income.
MAIN BODY
Purpose of applying critical thinking to the case study
Critical thinking defines an ability to make clear thinking and rationale so that effectual
understanding and logical connectivity is developed in between ideas. It also consist of general
information such as rationale, evaluation of factual basis, unbiased analysis and sceptical through
which complexity is reduced in systematic basis. It requires better ability to develop reasoning
skills and abilities that maintain lead while developing passive knowledge about collective
information. It is used to make better understanding about different ideas so that strong
connection is developed in effective manner (Banerjee, Niehaus and Suri, 2019). It reflect
ordinate recognition under which probability of errors and inconsistencies is reduced in
systematic manner.
It is used to drive higher possibilities under which various It provide essential criteria in
between ideas and arguments so that appropriate relevance in between idea and argument is
developed in sustained mode. It also develop an ability and capability to read and write questions
as in an academic discipline each individual have different of opinion, uncertainty and
conflicting evidence. It generate better accessibility and develop strong arguments in different
field and it is changes as per offered interest. It is used to enhance better understanding by
accumulating different facts and figures by including analysis, interpretation, observations,
reflections, inference, problem solving and decision-making.
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There is a lot of problems that is developed and generated within the society on the basis
of Universal Basic Income. People also be quite in favour about critical thinking by which ability
to survive in a better way is developed on continuous basis. For example, on the basis of ageing
population individual is not able to perform its work or might have work quite less and for this
they have shows better care towards elder relatives (Bidadanure, 2019). In this higher risk is
developed as they have better ideas to conduct its own business but it is impossible for them to
give up their own job.
It generate a worried feeling about paying of bills but in this Universal basic income
assist to make better paying and reduce risk rate as by making successful tax-paying system in
future period of time. In addition, due to the pandemic condition of COVID-19 different
challenges has been faced by society as it send each and every individual indoor. It also develop
a condition in which aerospace industry in Wales losses its 8,000 jobs under which it is hard to
get recover with relevance. In this the purpose of critical thinking is more useful as it assist to
make ordinate changes under which various solution to get over from pandemic situation is
created.
Claims, assertion and statements made and their validity
Claim is basically a demand that is processed as a request for something that is due for
some certain period of time. It reflect an evident that is used by speaker or writer to prove some
adequate point (Black, 2018). As per the case study it is claimed that due to generation of
COVID situation various issues has been developed which is dependent on mental health issue,
climate change, enhancement in working hour, automation of making jobs that is reduced, ageing
population and many others as well. These are the situations that could went way by its own and
it is required that exasperated increases current crisis in automatic mode. In order to manage this
condition and issue there is only one solution which is offered by Universal Basic Income. In
this different ideas and solution are generated over continuous period of time so that productive
amount of changes is addressed by managing every essential prospects.
The Universal basic income is a scheme that is developed by the government in which
they have provide minimum living wage to each individual so that there life is processed with
easy ongoings. In this ability to provide basic pay regardless of another income is provided in
better way. In this some experts and politicians offered appropriate solution about every problem
so that rate of troublesome is reduced with appropriateness (Francese and Prady, 2018). It is hard
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for an individual to get survive its life with minimum wage as the life expenses is increases with
controlled certainty. As per the citizens income it is divided on the basis of offered cash and it is
segmented under the fact of unconditional, automatic, withdrawnness, a right of citizenship and
individual. In unconditional the individual is offered basic income as it is vary as per the age and
there is no other condition thus individual of same age receive similar basic income as whatever
the gender, society contribution, housing cost etc.
Assertion is a forceful statement that drive clear facts and belief so that sustained
connection of different programme is developed with continuity. In relation to unconditional
income, adequate wage is provided to an individual regardless of its age, gender, contribution,
cost, family structure etc. In automatic citizens income, the salary is paid on the basis of weekly
or monthly automatically (Ghatak and Maniquet, 2019). Furthermore, in non-withdrawnness the
income is non tested thus if someone's wealth and earning is increases than also no change is
measured in basic income. Moreover, in individual income basic wage and salary is paid to each
individual and it is not dependent on household and couple. At the end in a right of citizenship,
each of UK's candidate receive a basic income if they are a legal resident and it is directly
subjected to legal residency for a minimised period of time. It is also be required that continuous
residency is induced for about a year or might be more than that as well.
A statement is a direct norm that induce better clarity about something in specific
manner. It produces meaningful and declarative sentence that induce transparent accessibility in
ordinate mode. The individual have claim that that are enable to control the risk that is developed
on the basis of ageing population. In addition people have different business ideas but they are
not willing to bear the generated risk (Haagh, 2019). In this the biggest problem is developed that
is dependent on automations in which many of the jobs are replaced due to adequate usage of
machines. It is also be analysed as per the study that is investigated in 2017 that almost of 400-
800 million individual losses its jobs due to massive displacement as up-to 2030. In this people
get supported Universal basic income that those individual who has replaced through robots must
get retrained and then furthermore a new pursuit must get followed. It eradicate the poverty in
Wales so that better potential to make enough in live is increases.
In this the ultimate result is developed as by maintain refocus on the society aspects by
which endless cycle is developed that facilitate longer and longer working hours. In this Finland,
also announces its two year result about Universal basic income at where it is measured that
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around 2000 unemployed individual are of in between 25-57 and lies as in unconditional. In
addition non tested have bear 560 Euros per month thus as per study it is acknowledge that
people are more happier and had great trust by which better confidence is generated in future
period of time (Hoynes and Rothstein, 2019). It is also reported that effective cognitive
functioning is processed that induce better unemployment benefits. It produces significant result
in which people still reflect its interest in unemployment reduction. In addition investment
manager and economist Milton Ezrati shows its concern about to make the efficiency usage of
resources as per its requirement and also manages logistics difficulties in ordinate mode.
Evaluation of ideas expressed in the case study
Due to the pandemic attack a lot of situations getting affected and changes as per
durability under which it is necessary that specified actions through which moderate amount of
changes is considered as in timely basis. It develop various conditions that is completely having
negative impact over production. In addition many of the jobs are reduced due to the parallel
inducement and advancement of machinery due to which sufficiency of human resources is
reduced in efficient manner. It reduces the ratio of unemployment under which economic crisis is
develop that make overall conditions even more worse along with this financial conditions also
get negatively affected (Lee, 2018). These situations make tough conditions for the individual
who is having certain set of skills and abilities and looking forward for a job. As individual didn't
get adequate wage and salary as per its experience so that universal basic income scheme is
developed through which accurate and appropriate wage is offered as per suitability.
In relation to Universal basic income it is designed as under government rules and
regulations. It includes the basic certainty under which adequate wage is offered to each
individual regardless of other sources of income. It actually produces favoured condition in
which easy pathway is offered to an individual so that rate of complexity and redundancy is
reduced. In this tougher times it is not possible for people to manage their expenses with its
earning sources and for this the only major concern is to gain adequate wage by which likelihood
is controlled with better sufficiency (Meltzoff and Cooper, 2018). On the other hand, it is also
required that wages is offered as per knowledge and experience not on the basis of ageing as
there is no relation in between ageing and skills. The abilities is only get increases as per
working experiences in certain sector and it provide better authority under which balanced
condition is developed with certain appropriateness.
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There is more program that is developed under which wages is provided to an individual
but it is not adequate for always and it doesn't get changes as per requirement. It is required and
essential that salary and wages is offered as regardless of gender, age, family structure but for
sure get provided as on the basis of skill set, knowledge, experience, attributes etc. In addition
income must have provided as per right of citizenship under which only UK's candidate get basic
income or those who is UK's resident. But it is not adequate as people might work as expatriates
and have worked to maintain stability in living life or in professionalism (Ortiz and et. al., 2018).
Under this situation UK's candidate get higher income and an individual who belong from
different country didn't get similar wage that make huge difference and develop discrimination. It
produce uncertain condition under which individual didn't get worked with effectiveness as they
have gone through pay gap that is the biggest demotivation.
In order to control the risk it is essential that wage is not provided on the basis of ageing
population regardless of this it is offered on the basis of working stability and criteria. In return
of automation and machinery usage amount of human workforce is reduced and it promotes the
rate of unemployment on continuous period of time. There is a massive shortcoming that is
develop due to technical advancement and if the technicalities is increases but then it is also
needed that workforce amount is managed and controlled with affordability. Somehow, a sustain
kind of support is developed through universal basic income under which wages standard is
achieved and long term sustainability is achieved with perfection. The world is going through a
vast development and under this it robots and other machinery is developed that reduces working
time and its processing as well. It is required to manage as it has negative impact over poverty
and working potential of an individual also get decreases.
The development of society is an endless cycle and is require continuous changes with
certain betterment. It actually facilitate the working standards and potential of each individual by
which as it parallel rate of employment also get increases (Yang, 2018). As according to study
material it is mandatory that people must live with happiness so that they get more confidence
and zeal to complete its working within assigned period of time. In Finland, its minister also said
that people of age group 25-57 required to be employed as they have interest to develop its future
with certain brightness. Under this organisation must have consider that effective utilisation of
resources is process that make everything even more easier and simpler. The logistics usage is
also be dependent along with this adequate wage is offered to employees that strengthen working
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behaviour in constrained mode. In this universal income is designed as by considering various
public services that also allows to pay adequate wage to employee who might come from
different nation as well.
CONCLUSION
It has been summarised from above report that critical thinking is also be essential aspect
as it assist to make effectual understanding about rights and wrong so that appropriate solution is
generated in timely basis. It is required that the critical thinking is used to resolve different
complex situation that is developed with the consideration of universal basic income. It is
required that individual get the payment as per its experience and a normalised amount is
provided by organisation's. So that it is easy for people to manage their daily expenses and
savings as well so that productive amount of modification is induce systematically.
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REFERENCES
Books and Journals
Banerjee, A., Niehaus, P. and Suri, T., 2019. Universal basic income in the developing world.
Annual Review of Economics.
Bidadanure, J.U., 2019. The political theory of universal basic income. Annual Review of
Political Science. 22. pp.481-501.
Black, M., 2018. Critical thinking: An introduction to logic and scientific method. Pickle
Partners Publishing.
Elder, L. and Paul, R., 2020. Critical thinking: Tools for taking charge of your learning and your
life. Foundation for Critical Thinking.
Francese, M. and Prady, D., 2018. Universal basic income: debate and impact assessment.
International Monetary Fund.
Ghatak, M. and Maniquet, F., 2019. Universal basic income: some theoretical aspects. Annual
Review of Economics. 11. pp.895-928.
Haagh, L., 2019. The Case for Universal Basic Income. John Wiley & Sons.
Hoynes, H. and Rothstein, J., 2019. Universal basic income in the United States and advanced
countries. Annual Review of Economics. 11. pp.929-958.
Lee, S., 2018. Attitudes toward universal basic income and welfare state in Europe: A research
note. Basic Income Studies. 13(1).
Meltzoff, J. and Cooper, H., 2018. Critical thinking about research: Psychology and related
fields. American psychological association.
Ortiz, I. and et. al., 2018. Universal Basic Income proposals in light of ILO standards: Key issues
and global costing. Available at SSRN 3208737.
Paul, R. and Elder, L., 2019. The miniature guide to critical thinking concepts and tools.
Rowman & Littlefield.
Yang, A., 2018. The war on normal people: The truth about America's disappearing jobs and
why universal basic income is our future. Hachette UK.
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