Why Is Universal Basic Services A Better Alternative To Universal Basic Income

The 21st century has been the most dynamic time period for humankind. The introduction of technology had initially made our lives not just easier but also highly efficient. A quote by Sophocles best describes the transition of technology in and around our lives today.

Nothing vast enters the life of mortals without a curse

The unregulated power and unlimited scope of technology have made us realise that while it does make our lives easier, it can and will also replace our utility in the not so distant future. Some of the changes we see today are already adding to the paranoia of tomorrow.

For example, the biggest E-Commerce companies in the world are using robots in their warehouses for the work that was done by humans until five years ago. Postal and Courier's services are going to be on the brink of extinction once the drone delivery system is commercialised. There are multiple such examples which will eventually highlight the one common problem — Humans can and will be replaced in their jobs by technology.

Anticipating this problem and its consequences, various government officials, businessmen and scholars across the world suggested adopting the concept of Universal Basic Income to tackle the issue of future mass unemployment.

What is Universal Basic Income (UBI)?

UBI is a government-guaranteed payment system that provides the citizens of the country enough money to cover their basic cost of living, irrespective of whether they have a job or not. Simply put, UBI is the concept of giving free money to people so that they can continue to live their lives in the event of a situation where they lose their jobs.

To some extent, a vague version of UBI is implemented in over a hundred countries today. Most countries have some cash transfer program for certain sections of society. For example, farmers may get economical support from time to time, or the elderly get basic monetary support as well.

UBI is a more evolved approach. In the past, business cycles, natural calamities or older adults determined the free transfer of money for a certain period of time. UBI assumes that every individual, whether earning or not, going through financial problems or not, is entitled to a fixed sum of income from the government.

Arguments in Favour of UBI

Some of the reasons UBI is generating a high amount of