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Guaranteed minimum income
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Guaranteed minimum income
Guaranteed minimum income (GMI), also called minimum income (or mincome for short), is a social-welfare system that guarantees all citizens or families an income sufficient to live on, provided that certain eligibility conditions are met, typically: citizenship and that the person in question does not already receive a minimum level of income to live on.
The primary goal of a guaranteed minimum income is reduction of poverty. Under more unconditional requirements, when citizenship is the sole qualification, the program becomes a universal basic income (UBI) system. Unlike a guaranteed minimum income, UBI does not typically take into account what a recipient already earns before receiving a UBI. A form of guaranteed minimum income that considers income as a criterion is the negative income tax. In this system, only individuals earning below a certain threshold receive subsidies.
A system of guaranteed minimum income can consist of several elements, most notably:
Persian monarch Cyrus the Great (c. 590 to c. 529 B.C.), whose government used a regulated minimum wage, also provided special rations to families when a child was born.
Cash assistance GMI was first documented by the third century BCE Greek philosopher, Aristotle, in his review of the Athenian Constitution. The modern equivalent would be a safety net program for people with less than $1,000 USD in savings to receive $20 USD per day.
The Roman Republic and Empire offered the Cura Annonae, a regular distribution of free or subsidized grain or bread to poorer residents. The grain subsidy was first introduced by Gaius Gracchus in 123 B.C., then further institutionalized by Julius Caesar and Augustus Caesar.
The first Sunni Muslim Caliph Abu Bakr, who came to power in 632 C.E., introduced a guaranteed minimum standard of income, granting each man, woman and child ten dirhams annually. This was later increased to twenty dirhams.[better source needed]
In 1662, English demographer John Graunt included in his book, Natural and Political Observations Made Upon the Bills of Mortality, an argument for GMI based on statistics collected from Bills of mortality. According to the historian of statistics Ian Hacking, this was a new method of argument for an already widespread proposal, and that advocacy for a GMI began at least thirty years before that.
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Guaranteed minimum income
Guaranteed minimum income (GMI), also called minimum income (or mincome for short), is a social-welfare system that guarantees all citizens or families an income sufficient to live on, provided that certain eligibility conditions are met, typically: citizenship and that the person in question does not already receive a minimum level of income to live on.
The primary goal of a guaranteed minimum income is reduction of poverty. Under more unconditional requirements, when citizenship is the sole qualification, the program becomes a universal basic income (UBI) system. Unlike a guaranteed minimum income, UBI does not typically take into account what a recipient already earns before receiving a UBI. A form of guaranteed minimum income that considers income as a criterion is the negative income tax. In this system, only individuals earning below a certain threshold receive subsidies.
A system of guaranteed minimum income can consist of several elements, most notably:
Persian monarch Cyrus the Great (c. 590 to c. 529 B.C.), whose government used a regulated minimum wage, also provided special rations to families when a child was born.
Cash assistance GMI was first documented by the third century BCE Greek philosopher, Aristotle, in his review of the Athenian Constitution. The modern equivalent would be a safety net program for people with less than $1,000 USD in savings to receive $20 USD per day.
The Roman Republic and Empire offered the Cura Annonae, a regular distribution of free or subsidized grain or bread to poorer residents. The grain subsidy was first introduced by Gaius Gracchus in 123 B.C., then further institutionalized by Julius Caesar and Augustus Caesar.
The first Sunni Muslim Caliph Abu Bakr, who came to power in 632 C.E., introduced a guaranteed minimum standard of income, granting each man, woman and child ten dirhams annually. This was later increased to twenty dirhams.[better source needed]
In 1662, English demographer John Graunt included in his book, Natural and Political Observations Made Upon the Bills of Mortality, an argument for GMI based on statistics collected from Bills of mortality. According to the historian of statistics Ian Hacking, this was a new method of argument for an already widespread proposal, and that advocacy for a GMI began at least thirty years before that.