Is Universal Basic Income (UBI) possible in Australia?
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What is Universal Basic Income (UBI) and how does it work?
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What countries have implemented UBI trials and what were the results?
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How much would UBI cost if implemented in Australia?
Lastly, please keep in mind that past performance is not indicative of future performance. Kate, welcome to this episode of the Australian Finance Podcast. Great to be back, Owen. Yeah, we've got a very special guest with us today. This guest, and I'll try and do him justice, just in the limited time I have available. Steve Killalay is the founder of a company on the ASX called Integrated Research. So the investors amongst us might know this company. He's an AO recipient, if I'm not mistaken. He's the founder of the Institute for Economics and Peace and the founder of the Charitable Foundation and so much more. Steve, thanks for joining Kate and I on the show.
What are the potential challenges of implementing UBI in Australia?
It's my pleasure to be here. We've been wanting to talk about some important macro topics, but you come at it from such an important angle, which is this angle of peace, and in particular, something called positive peace. Kate and I have had Peter Singer on the show recently, and we just love talking about this kind of thing and just thinking about ways that we can do better and ways that we can think better. Kate, I might throw it over you to get the ball rolling on some of the things we want to ask Steve.
Yeah, absolutely. So I had a few listener questions in the last few months wanting us to cover the topic of universal basic income. And now neither Owen or I are experts in that area. We've read a little bit, we've listened to a bit, but it was time to find an expert. So after a bit of hunting, we actually found Steve. So thank you so much for joining us, Steve.
How does UBI compare to existing welfare systems?
And I'd love to talk about and start the conversation off with what is the concept of universal basic income, or UBI, and how does it work?
Well, basically, the idea is that every citizen gets a certain amount of money. And the idea of that then is that will replace a lot of the social welfare systems and payments which are in place. So, but There aren't any countries currently which have actually implemented. So the pilots on limited scales are running in or have run in places like Finland, Canada, Netherlands and Iran. So if you came back and you think about it, let's say in an Australian environment, if you took the 24 million Australians and you were to give them $10,000 each, let's say as a basic income, that would be $240 billion which we'd be paying out.
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Chapters
8 chapters
1
What is Universal Basic Income (UBI) and how does it work?
0:00–0:57
2
What countries have implemented UBI trials and what were the results?
0:57–1:51
3
How much would UBI cost if implemented in Australia?
1:51–2:37
4
What are the potential challenges of implementing UBI in Australia?
2:37–3:27
5
How does UBI compare to existing welfare systems?
3:27–4:28
6
What is the significance of positive peace in relation to UBI?
4:28–5:18
7
How does measuring global peace relate to economic stability?
5:18–6:01
8
What actions can individuals take to support sustainable economic models?
6:01–34:02
Speakers
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