Monthly Archives: August 2017

A Late Summer Break

It’s the end of summer, and a good time to take a break. The mornings are a little cooler now, and although the days and evenings are still warm and hazy, I can feel fall and winter in the air. So, I’m going to slow down, and savor what’s left of this summer!

For two and a half years since I started this blog, my first thought each morning and my last thought each night was writing for this blog. It’s been an obsession, and a great pleasure! It’s hard to believe that I’ve written 120 articles with no concern about running out of things to write about. It is an interesting world, full of important and urgent issues, which call for attention, research, and consideration. One idea leads to another, one hundred and twenty issues down, hundreds more to go! read more

The Stunning Failure of the Contribution Pension Plan

Ask any Millennial what they’ll live on when they retire, and they’ll look at you with a blank stare. First off, they are young (oldest are 35), so age 65 seems a lifetime away. Secondly, most of them are occupied with just getting by, an outcome of living in the gig economy, in which saving is unlikely. And we (the Silent generation and older Boomers), were like that too—someone out there would look out for us, things would turn out. Furthermore, most of them are convinced that retirement with a pension is a thing of the past. read more

Guaranteed Basic Income—Still a Utopian Dream?

There’s no doubt that talk of a guaranteed basic income (GBI) is gaining momentum. It’s not a groundswell by any means—it hasn’t caught the interest of a critical mass, but its slowly becoming a buzzword.

Last week I wrote about the GBI, discussing its history, and listing countries that have already implemented a version of it. I realize now, as I continue my research, that some of my facts were not completely accurate, so I’m revisiting it.

Here’s how the GBI currently stands:

In Kenya, participants from selected villages are included in a basic income project. They receive a basic income through a charity program, GiveDirectly, a New York-based nonprofit. Initiated in the fall of 2016, this 12 year pilot program includes 95 participants in a rural village in Western Kenya, who receive about $22US every month, to save or spend as they see fit. Before GiveDirectly began the payments, many people in the village were living on less than $0.75US a day. Afterwards, an analysis claimed that “for 45% of the village’s residents, the first month’s basic income payment was the largest amount of money they’d ever had.” read more