More on the nitty-gritty of the UBI mechanism advocated for Guyana - the Americas fastest rising Petrostate,

Buxton Proposal Part 6

Introduction

Today’s column continues my description of the nitty-gritty features or the key nuts and bolts of the universal basic income [UBI] mechanism, the Buxton Proposal, which I have long advocated for Guyana as the most effective means of eradicating its persistent poverty. Five of these features have been addressed thus far; and items 6 to 11 are addressed next in this column

The Remaining Features [Items 6 to 11 ]

For purposes of effective communication to non-specialist audiences, the World Bank has displayed in a single Table, under six headings, much of the empirical foundation and bases from which it arrives at the verdict that, universal cash transfers can be quite useful. The Table is reproduced below. These six headings are 1] social inclusion; 2] poverty and inequality impacts; 3] labor and positive economic incentives; 4] education impacts; 5] food, nutrition and health impacts; and 5] encouraging effects on early childhood development. This Table is reproduced below, revealing the potential for strong positive impacts on the scourge of income poverty.

Of further note, the United Nations, Food and Agricultural Organization, FAO, has also recently informed the development community that:

Evaluations of seven CTs in Sub-Saharan Africa have found that CTs generate a broad range of social, economic and productive impacts among poor small family farmers and — contrary to common perception these do not encourage dependency.”

“The CTs enhanced agricultural activities; … gave beneficiaries greater flexibility in labour allocation; helped them better manage risk; and CTs also benefitted the wider communities through local economic multiplier effects.”