Global Development Partners - GDP International Inc

“If we were to put Popes Francis and Leo in dialogue, we might also identify a caveat: Basic income should stand on the basis of co-ownership. Many cash-transfer programs do this, using a vehicle such as a sovereign wealth fund; thus it is clear that the money people receive is a dividend on what they co-own, not a handout that should be a source of shame or a sign of failure. A basic income based on ownership would also be less likely to fall victim to the ever-widening distance between the wealth of the capitalist class and the extent of public services everyone else can count on. To be meaningful, basic income must be made of solidarity, not crumbs.”

The pope just proposed a universal basic income. Is the United States ready for it? “This may be the time,” he said, “to consider a universal basic wage.” This points unmistakably to what is usually known as universal basic income—a regular, substantial cash payment to people just for being alive.