Analysis of Universal Basic Income in the Context of Sustainable Development Goals

Introduction to Subject Matter and Expert Contributor

This report examines the economic and social implications of Universal Basic Income (UBI) through the framework of the United Nations Sustainable Development Goals (SDGs). The analysis incorporates insights from Rami Sneineh, Vice President of Insurance Navy Brokers, an insurance professional with extensive experience in risk management and client-centric financial solutions. His expertise provides a valuable perspective on how UBI could function as a mechanism for achieving global development targets.

Potential Impacts of Universal Basic Income on Key SDGs

The implementation of a UBI system is projected to have a direct and significant impact on several Sustainable Development Goals. The primary areas of alignment include:

• SDG 1: No Poverty – UBI directly addresses this goal by establishing a social protection floor, providing a foundational income to lift individuals out of extreme poverty.
• SDG 2: Zero Hunger – By ensuring a minimum level of income, UBI can enhance food security and improve nutritional outcomes for the most vulnerable populations.
• SDG 3: Good Health and Well-being – The financial stability provided by UBI can reduce stress-related health conditions and improve access to essential healthcare services.
• SDG 8: Decent Work and Economic Growth – UBI can serve as an economic stabilizer, empowering individuals to pursue education, entrepreneurship, and caregiving, thereby fostering a more resilient and inclusive workforce.
• SDG 10: Reduced Inequalities – As a universal measure, UBI has the potential to mitigate income disparities within and among countries, promoting greater economic and social equity.

Comprehensive Analysis and Further Insights

A detailed discussion regarding these intersections was conducted between Scott Douglas Jacobsen and Rami Sneineh. The interview explores the multifaceted consequences of UBI on societal structures and its role in building a sustainable and equitable future aligned with the 2030 Agenda for Sustainable Development.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

The article introduces a discussion on the “economic and social implications of Universal Basic Income (UBI).” This central topic is directly connected to the following Sustainable Development Goals:

• SDG 1: No Poverty

  The concept of UBI is fundamentally aimed at eradicating poverty by providing a basic income floor to all individuals, which is the primary objective of SDG 1.

• SDG 10: Reduced Inequalities

  By providing a universal payment, UBI seeks to lessen income disparities within a population. This directly relates to the goal of reducing inequality within and among countries.

• SDG 8: Decent Work and Economic Growth

  The article’s mention of the “economic implications” of UBI connects the topic to SDG 8, as any analysis would need to consider the policy’s impact on labor markets, employment rates, and economic productivity.

• SDG 3: Good Health and Well-being

  The “social implications” of UBI are closely linked to SDG 3. A guaranteed income can reduce financial stress and improve access to healthcare and nutrition, thereby promoting better health and well-being.

2. What specific targets under those SDGs can be identified based on the article’s content?

Based on the article’s focus on Universal Basic Income (UBI), several specific SDG targets can be identified as relevant to the issues raised:

1. Target 1.3: Implement nationally appropriate social protection systems and measures for all, including floors.

   UBI is a direct example of a social protection system designed to establish a financial “floor,” aligning perfectly with the objective of this target.

2. Target 10.1: By 2030, progressively achieve and sustain income growth of the bottom 40 per cent of the population at a rate higher than the national average.

   A primary goal of UBI is to increase the income of the lowest earners, making this target a key benchmark for assessing its effectiveness in reducing inequality.

3. Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men.

   The “economic implications” of UBI, as mentioned in the article, are often debated in relation to this target, specifically concerning how a basic income might affect work incentives and the labor market.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

The article does not explicitly state any indicators. However, by introducing the topic of the “economic and social implications” of UBI, it implies a need for measurement. Progress towards the relevant targets would be measured using indicators such as the following:

• Indicator 1.3.1: Proportion of population covered by social protection floors/systems.

  This indicator is implied as it would be the primary metric to quantify the reach of a UBI program and measure progress towards Target 1.3.

• Indicator 10.1.1: Growth rates of household expenditure or income per capita among the bottom 40 per cent of the population and the total population.

  This indicator is implicitly relevant for assessing whether UBI achieves its goal of reducing income inequality as outlined in Target 10.1.

• Indicator 8.5.1: Average hourly earnings of female and male employees.

  To evaluate the “economic implications” on the labor market (Target 8.5), this indicator would be essential for tracking changes in wages and employment dynamics.

4. Create a table with three columns titled ‘SDGs, Targets and Indicators” to present the findings from analyzing the article.

Source: basicincome.org