The idea that could fix the economy overnight | Guy Standing on UBI

Video Description

Guy Standing explains how the revolutionary idea of a Universal Basic Income could transform the global economy for the better - and why we already know that it works. Is it time for a massive overhaul of the economy? With a free trial, you can watch Guy's talk on the politics of time at https://iai.tv/video/the-politics-of-time-guy-standing?utm_source=YouTube&utm_medium=description It's a tale as old as time - the rich get richer while the poor are left to choose between souk-crushing jobs and a life on the streets. But, does it have to be that way? Conservatives and moderates alike have worked hard to stop an increase to taxes on the wealthiest in society, allowing billionaires and massive corporations to exploit loopholes and pay far less than their fair share. However, if we worked to close these loopholes and used the new public funds to support the working and middle classes, there's reason to think that everyone - every single person - would be better off financially... Including those at the very top. #economics #ubi #costofliving #capitalism Guy Standing is professor of Development Studies at SOAS and co-founder of the Basic Income Earth Network. He is best known as a long-standing and prominent advocate of Universal Basic Income, but he is also responsible for redefining and revitalising the term ‘precariat’ which describes a new emerging social class suffering from job insecurity as well as identity insecurity and lack of time control. The Institute of Art and Ideas features videos and articles from cutting edge thinkers discussing the ideas that are shaping the world, from metaphysics to string theory, technology to democracy, aesthetics to genetics. Subscribe today! https://iai.tv/subscribe?utm_source=YouTube&utm_medium=description&utm_campaign=guy-standing-ubi 00:00 If we can afford to allow tax loopholes for billionaires, why can't we afford a basic income for everyone? 00:59 The fundamentals of a Universal Basic Income 04:44 The far-reaching positive impacts of UBI 08:03 A basic income would increase autonomy and freedom 10:49 Successful experiments using UBI 14:23 Financial security makes us all mentally stronger 16:35 "We're creating a divided society" 18:20 Unpacking the arguments against UBI 21:41 The rise of fascism and populist politicians For debates and talks: https://iai.tv For articles: https://iai.tv/articles For courses: https://iai.tv/iai-academy/courses