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EFFECTS OF REPLACING EXISTING BENEFIT SCHEMES WITH UBI

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ECO3019 2018/19 CA1 – Further Details Recent years have seen a growing interest in the idea of Universal Basic Income (UBI), with some countries even trialling UBI schemes (e.g. Finland). The basi... c idea of UBI is to give a regular monthly payment to everybody in the country, whether they work or not. This would largely replace current systems of means-tested welfare benefits (unemployment benefits etc). UBI can impact on many outcomes including poverty and inequality, but one of the key arguments put forward by its supporters is that it can improve work incentives when compared to existing means-tested welfare regimes. Using your understanding of economic theory and any relevant empirical evidence, assess the potential work incentive effects of replacing existing means-tested benefits with a plausible UBI scheme in a country like the UK, illustrating your answer with an appropriate diagram or diagrams. Your essay should be 700 words excluding diagrams and bibliography (i.e. these don’t count towards the total word count). +/- 10% on the word count is ok, but answers outside that range will be marked down. You must state the word count. The deadline for submission of completed assignments – via the module Turnitin page – is Friday 2 nd November (week 6). Late submission will attract the usual penalties. The module Turnitin page is called Labour Economics 2018-19, class id = 3881912, enrolment key/password = borjas. This essay accounts for 25% of the overall modu [Show More]

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