Guaranteed Income Scheme Essay example

3632 Words Jul 21st, 2015 15 Pages
Income Guarantee Schemes
Amir Hasanat
ECON 3505 - Critique of Capitalism

Canada and the United States grapple with situations that necessitate income guarantee schemes but have not implemented the schemes. Income guarantee schemes are social welfare provisions in which governments offer incomes to the citizens to enable them meet their needs as long as they meet established conditions. The origin of this scheme lies in the understanding that every citizen has a right to wealth and property of the state. It is also based on the reality that not all citizens are capable of earning income or sustaining themselves. Income guarantee schemes are based on social welfare models, which conceptualize that it is the role of
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In developed countries, income guarantee schemes target the poor in the society with the aim of uplifting their economic status and eradicating poverty. In addition, income guarantee schemes endeavor to achieve economic equality by ensuring that even those who are unemployed earn some income. Therefore, through guarantee income, the government reduces or eradicates the dependency ratio, thus spurring economic activity. The economic security guaranteed by income guarantee schemes is very important for the sake of social order and economic equality. Since every citizen has the same rights, it is necessary to ensure that the needs of all are catered for. Economic disparity is a common problem in many countries, and the governments implement numerous programs with the aim of tackling it ( McGregor and McKillop, 2003: 20). Income guarantee programs offer the best blueprint towards ensuring that the disparity in economic sense is bridged. This serves an economic, social, and political purpose, because once every citizen is assured of some kind of income, there can be overall development, reduced crime, as well as satisfaction across the political divide. The history of income guarantee programs can be traced from Caliph Abu Bakr who offered free income to citizens, American revolutionary Thomas Paine who championed for citizen dividend, Emperor Napoleon Bonaparte who affirmed every citizen’s right to enjoy the produce of the earth, and Robert Theobald who called

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