Demonetizing Everything, A Post Capitalism World

Singularity University Executive Chairman & Co-founder Peter Diamandis will share his views and predictions on the "demonetization of living" and how this shift will impact your life, your career, your organization, and the global economy.

Standard of living refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area, usually a country. The standard of living includes factors such as income, quality and availability of employment, class disparity, poverty rate, quality and affordability of housing, hours of work required to purchase necessities, gross domestic product, inflation rate, amount of leisure time every year, affordable (or free) access to quality healthcare, quality and availability of education, life expectancy, incidence of disease, cost of goods and services, infrastructure, national economic growth, economic and political stability, political and religious freedom, environmental quality, climate and safety. The standard of living is closely related to quality of life.


Standard of living is generally measured by standards such as real (i.e. inflation adjusted) income per person and poverty rate. Other measures such as access and quality of health care, income growth inequality, and educational standards are also used. Examples are access to certain goods (such as number of refrigerators per 1000 people), or measures of health such as life expectancy. It is the ease by which people living in a time or place are able to satisfy their needs and/or wants.

The main idea of a 'standard' may be contrasted with the quality of life, which takes into account not only the material standard of living, but also other more intangible aspects that make up human life, such as leisure, safety, cultural resources, social life, physical health, environmental quality issues, etc. More complex means of measuring well-being must be employed to make such judgements, and these are very often political, thus controversial. Even between two nations or societies that have similar material standards of living, quality of life factors may in fact make one of these places more attractive to a given individual or group.

A basic income (also called basic income guarantee, citizen's income, unconditional basic income, universal basic income (UBI), or universal demogrant) is a form of social security in which all citizens or residents of a country receive a regular, unconditional sum of money, either from a government or some other public institution, independent of any other income. An unconditional income transfer that is considered insufficient to meet a person's basic needs (or below the poverty line), is sometimes called a partial basic income, while one at or greater than that level is sometimes called a full basic income. Besides national basic income, full or partial, it can also be local or regional basic income. Some welfare systems are more or less related to basic income but also have some strings and/or are restricted to "The poor" in a region. Bolsa Familia in Brasil is a well-known example.

Basic income systems that are financed by the profits of publicly owned enterprises (often called social dividend, also known as citizen's dividend) are major components in many proposed models of market socialism. Basic income schemes have also been promoted within the context of capitalist systems, where they would be financed through various forms of taxation.

Similar proposals for "capital grants provided at the age of majority" date to Thomas Paine's Agrarian Justice of 1795, there paired with asset-based egalitarianism. The phrase "social dividend" was commonly used as a synonym for basic income in the English-speaking world before 1986, after which the phrase "basic income" gained widespread currency.

Prominent advocates of the concept include André Gorz, Ailsa McKay, Guy Standing, Karl Widerquist, Hillel Steiner, Peter Vallentyne and Philippe Van Parijs.

Pilot programs

As of 2017, there are no well established and ongoing basic income programs. However, many countries have well established cash transfer assistance programs that are means tested or provide for less than basic needs. For example, the Permanent Fund of Alaska in the United States provides a relatively small cash "oil dividend" to nearly all state residents, and the Bolsa Família program in Brazil provides means-tested partial assistance to the poor. Additionally, several other countries have tested, implemented, or begun planning the following basic income experiments:
  • Experiments with negative income tax in United States and Canada in the 1960s and 1970s. 
  • A town in Manitoba, Canada experimented with a basic guaranteed income in the 1970s 
  • The Basic Income Grant (BIG) in Namibia, launched in 2008 
  • An independent pilot implemented in São Paulo, Brazil 
  • Several villages in India participated in basic income trial, while the government has proposed a guaranteed basic income for all citizens. 
  • The GiveDirectly experiment in Nairobi, Kenya, which is the biggest and longest basic income pilot as of 2017. 
  • The city of Utrecht in the Netherlands launched an experiment in early 2017 that is testing different rates of aid. 
  • Ontario, Canada will implement a basic income trial in summer 2017. 
  • The Finnish government implemented a two-year pilot in January 2017 involving 2,000 subjects. 
  • Eight, a nonprofit organisation, launched a project in a village in Fort Portal, Uganda in January 2017, providing income for 56 adults and 88 children through mobile money.

Thanks to Wikipedia: Basic Income  Standard of Living
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