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Basic Income And The Left by henningmeyer
basic income, Bernie Sanders, centre right, eurozone crisis, income inequality, John Maynard Keynes: technological unemployment, labour market flexibility, land value tax, means of production, mini-job, moral hazard, precariat, quantitative easing, Silicon Valley, the market place, Tobin tax, universal basic income
done in the past is organise the struggle for decent There are further problems. At this low rate of allowance, people will still have to go out and work on the labour market. The basic income then wages and working conditions. Progressives can never be happy with the current state of affairs and the dismantlement of social and economic rights. becomes very rapidly a simple wage subsidy or an After the Second World War, the ILO was able to open door to ‘mini jobs’. Can this be a progressive issue its ‘Declaration of Philadelphia’. In it, member solution? states declared that ‘labour is not a commodity’. And A last point on which van Parijs does not touch but one that is very important is that our current social 24 indeed, thanks to social struggles and the then emerging welfare states, the power relations between labour and capital changed. Sure, the exis‐ 25 tence of the socialist threat in Eastern Europe world’s wealth, which seems to be van Parijs’ objec‐ helped.
There it has appeared as a public goods. Thus universal childcare, free or panacea for burgeoning insecurity. But it is a blun‐ heavily subsidised, is at the heart of the Nordic derbuss which would be hugely expensive and inef‐ welfare states — not there to be bought by a child‐ ficient: an obvious effect would, perversely, be to care ‘consumer’ with his/her universal basic income. expand the arena of ‘mini-jobs’ offering low pay and Active labour market schemes, which assist workers with low productivity, for which universal basic to make the transition from obsolete skills to those income would simply provide a wage subsidy to in demand, safeguarded by high replacement-rate poor employers. The more obvious trajectory to benefits, are another key feature particularly of follow is to seek to de-commodify labour by proper Denmark’s famed ‘flexicurity’. 64 65 Passing Fad Seen in that light, universal basic income is not so much an idea whose time has come as a fad which 10 will pass for lack of public traction.
Brave New World of Work by Ulrich Beck
affirmative action, anti-globalists, Asian financial crisis, basic income, Berlin Wall, collective bargaining, conceptual framework, Fall of the Berlin Wall, feminist movement, full employment, future of work, Gunnar Myrdal, hiring and firing, illegal immigration, income inequality, informal economy, job automation, knowledge worker, labour market flexibility, labour mobility, low skilled workers, McJob, means of production, mini-job, post-work, postnationalism / post nation state, profit maximization, purchasing power parity, rising living standards, Silicon Valley, working poor, working-age population, zero-sum game
An eyes-closed policy (or non-policy) was taken to absurd lengths by the Kohl government in Germany, but it is well enough known that breaches in the dyke cannot be repaired in that way. Precisely when nothing is happening politically, a great deal happens out there in the world. Thus, within ten years the number of so-called marginal employees soared from 2.8 million to 5.6 million. The consequences are plain to see. Where mini-jobs without social obligations are no longer the exception but the rule, the old social security system is giving up the ghost. Eyes-closed policies condone and accept an insidious move away from the welfare state. Anyone who ‘deliberately’ bets on full employment soon turns to a politics of criminalization, directed against ‘swamping’ by ‘deviant’ forms of employment. ‘Just look at the mess everything is in,’ complains the new minister for family affairs, Christine Bergmann.
The whole matter is obviously jinxed, because apparently identical kinds of work conceal opposite realities that no one is able to reduce to a common denominator. In catering, office cleaning and the retail trade, temporary work is by now largely the rule. To eliminate it is to endanger that whole area of the economy, and with it the jobs that one supposedly wants to create. According to one of the plans devised by the labour ministry, holders of mini-jobs will pay more than DM300 into the health insurance fund – but only if they are already insured anyway (through the family, for example). If they are not so insured and earn between DM300 and DM620, the employer must pay his bit into the health fund – but no insurance cover results from it. The same applies to unemployment insurance. Seasonal labour is not affected by any of this, and exceptions are being discussed for a whole series of occupational groups such as newspaper-deliverers.
The Case for Universal Basic Income by Louise Haagh
back-to-the-land, basic income, battle of ideas, Bertrand Russell: In Praise of Idleness, bitcoin, blockchain, cryptocurrency, delayed gratification, Diane Coyle, full employment, future of work, housing crisis, income inequality, job-hopping, land reform, low skilled workers, Mark Zuckerberg, mini-job, moral hazard, new economy, offshore financial centre, precariat, race to the bottom, rent control, road to serfdom, Silicon Valley, Skype, smart contracts, trickle-down economics, universal basic income
The exclusionary effects of unplanned competition are diverse, ranging from the mass pool of graduates chasing fewer high-skill jobs,49 to low-skill workers competing for unstable contracts.50 Leading employers confirm zero-hours flexibility is a key way for private companies to manage global crises.51 Along with a rise in involuntary part-time or fixed-time work,52 trend-setting institutions, including large public and private service companies, have switched a growing slice of workers into non-standard employment, such as in Germany ‘mini-jobs’, or in the UK so-called ‘zero-hours contracts’.53,54 In the public sector, ‘spot purchasing’ practices linked with the drive to expand markets within the state are cited as the main reason behind the high concentration of zero-hours contracts in care services in the UK,55 a trend also growing in Europe. The inability for workers on zero-hour contracts to plan family life, mortgages, and time for care is well documented:56 the most vulnerable groups in society are today being cared for by the most vulnerable workers.
The Economics of Belonging: A Radical Plan to Win Back the Left Behind and Achieve Prosperity for All by Martin Sandbu
"Robert Solow", Airbnb, autonomous vehicles, balance sheet recession, bank run, banking crisis, basic income, Berlin Wall, Bernie Sanders, Boris Johnson, Branko Milanovic, Bretton Woods, business cycle, call centre, capital controls, carbon footprint, Carmen Reinhart, centre right, collective bargaining, debt deflation, deindustrialization, deskilling, Diane Coyle, Donald Trump, Edward Glaeser, eurozone crisis, Fall of the Berlin Wall, financial intermediation, full employment, future of work, gig economy, Gini coefficient, hiring and firing, income inequality, income per capita, industrial robot, intangible asset, job automation, John Maynard Keynes: technological unemployment, Kenneth Rogoff, knowledge economy, knowledge worker, labour market flexibility, liquidity trap, longitudinal study, low skilled workers, manufacturing employment, Martin Wolf, meta analysis, meta-analysis, mini-job, mortgage debt, new economy, offshore financial centre, oil shock, open economy, pattern recognition, pink-collar, precariat, quantitative easing, race to the bottom, Richard Florida, Robert Shiller, Robert Shiller, Ronald Reagan, secular stagnation, social intelligence, TaskRabbit, total factor productivity, universal basic income, very high income, winner-take-all economy, working poor
Such “nonstandard” working conditions are a vehicle for deprivation: 22 per cent of OECD households that have only nonstandard work are in poverty, against only 3 per cent of those who enjoy stable work conditions.9 A particular mention goes to Germany, which managed the feat of moving from one bad system to the other. Its labour market reforms in the early 2000s were intended to remove rigid rules and reform benefits that were thought to keep people out of work. The reforms were successful insofar as they increased both growth rates and employment. But average wages did not move—and actually fell for the lower paid. Temporary work, meanwhile, became more frequent, as did so-called mini-jobs, or very part-time positions. As a result, the bottom 40 per cent make the same as or less than twenty-five years ago (after adjusting for inflation), and the number of working poor has doubled.10 Unionisation, too, has fallen significantly, which seems to be behind the long wage stagnation.11 If Germany was the model for some of the southern European countries that reformed their labour markets under pressure from the debt crisis a decade later, it is not a big surprise if they achieve similar results.12 Despite often being seen as an example of an inclusive economy both in Germany itself and by others, the German economy now creates income inequality to equal that of the United Kingdom and the United States before taxes and redistribution—to the point where the German economist Marcel Fratzscher has said the old Germany social market economy that was built on the ruins of the Second World War no longer exists.13 Indeed Germany, too, has produced groups of left behind—those channelled into the precarious rungs of the labour market after the early-2000s reforms, as well as large parts of the former East Germany.
The Precariat: The New Dangerous Class by Guy Standing
8-hour work day, banking crisis, barriers to entry, basic income, Bertrand Russell: In Praise of Idleness, call centre, Cass Sunstein, centre right, collective bargaining, corporate governance, crony capitalism, deindustrialization, deskilling, fear of failure, full employment, hiring and firing, Honoré de Balzac, housing crisis, illegal immigration, immigration reform, income inequality, labour market flexibility, labour mobility, land reform, libertarian paternalism, low skilled workers, lump of labour, marginal employment, Mark Zuckerberg, mass immigration, means of production, mini-job, moral hazard, Naomi Klein, nudge unit, old age dependency ratio, Panopticon Jeremy Bentham, pensions crisis, placebo effect, post-industrial society, precariat, presumed consent, quantitative easing, remote working, rent-seeking, Richard Thaler, rising living standards, Ronald Coase, Ronald Reagan, science of happiness, shareholder value, Silicon Valley, The Market for Lemons, The Nature of the Firm, The Spirit Level, Tobin tax, transaction costs, universal basic income, unpaid internship, winner-take-all economy, working poor, working-age population, young professional
It would be more accurate to refer to so-called part-timers, since many who choose or are obliged to take a part-time job find that they have to work more than anticipated and more than they are being paid for. Part-timers, often women, who step off a career ladder, may end up more exploited, having to do much uncompensated workfor-labour outside their paid hours, and more self-exploited, having to do extra work in order to retain a niche of some sort. The growth in part-time jobs has helped conceal the extent of unemployment and underemployment. Thus, in Germany, shifting more people into ‘mini-jobs’ has maintained the illusion of high employment and led some economists to make foolish claims about a German employment miracle after the financial crash. Other categories overlapping with the precariat are ‘independent contractors’ and ‘dependent contractors’. There is no equivalence with the precariat here, since many contractors are secure in some respects and have 16 THE PRECARIAT a strong occupational identity.
The Corruption of Capitalism: Why Rentiers Thrive and Work Does Not Pay by Guy Standing
3D printing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Asian financial crisis, asset-backed security, bank run, banking crisis, basic income, Ben Bernanke: helicopter money, Bernie Sanders, Big bang: deregulation of the City of London, bilateral investment treaty, Bonfire of the Vanities, Boris Johnson, Bretton Woods, business cycle, Capital in the Twenty-First Century by Thomas Piketty, carried interest, cashless society, central bank independence, centre right, Clayton Christensen, collapse of Lehman Brothers, collective bargaining, credit crunch, crony capitalism, crowdsourcing, debt deflation, declining real wages, deindustrialization, disruptive innovation, Doha Development Round, Donald Trump, Double Irish / Dutch Sandwich, ending welfare as we know it, eurozone crisis, falling living standards, financial deregulation, financial innovation, Firefox, first-past-the-post, future of work, gig economy, Goldman Sachs: Vampire Squid, Growth in a Time of Debt, housing crisis, income inequality, information retrieval, intangible asset, invention of the steam engine, investor state dispute settlement, James Watt: steam engine, job automation, John Maynard Keynes: technological unemployment, labour market flexibility, light touch regulation, Long Term Capital Management, lump of labour, Lyft, manufacturing employment, Mark Zuckerberg, market clearing, Martin Wolf, means of production, mini-job, Mont Pelerin Society, moral hazard, mortgage debt, mortgage tax deduction, Neil Kinnock, non-tariff barriers, North Sea oil, Northern Rock, nudge unit, Occupy movement, offshore financial centre, oil shale / tar sands, open economy, openstreetmap, patent troll, payday loans, peer-to-peer lending, plutocrats, Plutocrats, Ponzi scheme, precariat, quantitative easing, remote working, rent control, rent-seeking, ride hailing / ride sharing, Right to Buy, Robert Gordon, Ronald Coase, Ronald Reagan, Sam Altman, savings glut, Second Machine Age, secular stagnation, sharing economy, Silicon Valley, Silicon Valley startup, Simon Kuznets, sovereign wealth fund, Stephen Hawking, Steve Ballmer, structural adjustment programs, TaskRabbit, The Chicago School, The Future of Employment, the payments system, The Rise and Fall of American Growth, Thomas Malthus, Thorstein Veblen, too big to fail, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Y Combinator, zero-sum game, Zipcar
Reunification with East Germany in 1990 gave it yet more cheap labour and, when the Eurozone was established in 1999, the strong Deutschmark permitted an implicit currency devaluation relative to other members, giving German exports a further cost advantage. To compound the advantage, in 1998 German trade unions made a ‘concession bargain’ with employers and government that held down wages. Then, in 2004, the Social Democratic government of Gerhard Schröder introduced the Hartz IV welfare reform, which cut unemployment benefits and imposed conditions that forced many to take low-paid ‘mini-jobs’. This put more downward pressure on wages, especially at the lower end, so increasing inequality. Real wages were static or fell from the early 1990s onwards. Average wages were lower in 2015 than in 1990, although national income per person had risen by nearly 30 per cent. In Britain, too, wages have been stagnant for years. Though wages of those in full-time jobs rose a bit in 2015, average weekly pay was still 9 per cent below pre-recession levels.
Rewriting the Rules of the European Economy: An Agenda for Growth and Shared Prosperity by Joseph E. Stiglitz
Airbnb, balance sheet recession, bank run, banking crisis, barriers to entry, Basel III, basic income, Berlin Wall, bilateral investment treaty, business cycle, business process, Capital in the Twenty-First Century by Thomas Piketty, central bank independence, collapse of Lehman Brothers, collective bargaining, corporate governance, corporate raider, corporate social responsibility, creative destruction, credit crunch, deindustrialization, discovery of DNA, diversified portfolio, Donald Trump, eurozone crisis, Fall of the Berlin Wall, financial intermediation, Francis Fukuyama: the end of history, full employment, gender pay gap, George Akerlof, gig economy, Gini coefficient, hiring and firing, housing crisis, Hyman Minsky, income inequality, inflation targeting, informal economy, information asymmetry, intangible asset, investor state dispute settlement, invisible hand, Isaac Newton, labor-force participation, liberal capitalism, low skilled workers, market fundamentalism, mini-job, moral hazard, non-tariff barriers, offshore financial centre, open economy, patent troll, pension reform, price mechanism, price stability, purchasing power parity, quantitative easing, race to the bottom, regulatory arbitrage, rent-seeking, Robert Shiller, Robert Shiller, Ronald Reagan, selection bias, shareholder value, Silicon Valley, sovereign wealth fund, TaskRabbit, too big to fail, trade liberalization, transaction costs, transfer pricing, trickle-down economics, tulip mania, universal basic income, unorthodox policies, zero-sum game
The optimal policy may accordingly entail using both instruments, as the United States does, though its minimum wage is far below a living wage, and its wage subsidy via tax credit is too small to bring it up to a living wage. IMPROVING WORKER CONFIDENCE Regulate Precarious Jobs Scarcity of good jobs in Europe has forced many to enter precarious work arrangements, which includes part-time jobs, mini-jobs, and on-call and zero-hours contracts,§ to mention some of the new forms of employment (Box 9.1). In some cases, changes in technology have facilitated these new arrangements; whatever the efficiency benefits of the technological changes, they all have distributive consequences of which we must be mindful. These job arrangements are underregulated, generally offer poor working conditions, and often come with no social security benefits.
The Default Line: The Inside Story of People, Banks and Entire Nations on the Edge by Faisal Islam
Asian financial crisis, asset-backed security, balance sheet recession, bank run, banking crisis, Basel III, Ben Bernanke: helicopter money, Berlin Wall, Big bang: deregulation of the City of London, Boris Johnson, British Empire, capital controls, carbon footprint, Celtic Tiger, central bank independence, centre right, collapse of Lehman Brothers, credit crunch, Credit Default Swap, crony capitalism, dark matter, deindustrialization, Deng Xiaoping, disintermediation, energy security, Eugene Fama: efficient market hypothesis, eurozone crisis, financial deregulation, financial innovation, financial repression, floating exchange rates, forensic accounting, forward guidance, full employment, G4S, ghettoisation, global rebalancing, global reserve currency, hiring and firing, inflation targeting, Irish property bubble, Just-in-time delivery, labour market flexibility, light touch regulation, London Whale, Long Term Capital Management, margin call, market clearing, megacity, Mikhail Gorbachev, mini-job, mittelstand, moral hazard, mortgage debt, mortgage tax deduction, mutually assured destruction, Myron Scholes, negative equity, North Sea oil, Northern Rock, offshore financial centre, open economy, paradox of thrift, Pearl River Delta, pension reform, price mechanism, price stability, profit motive, quantitative easing, quantitative trading / quantitative ﬁnance, race to the bottom, regulatory arbitrage, reserve currency, reshoring, Right to Buy, rising living standards, Ronald Reagan, savings glut, shareholder value, sovereign wealth fund, The Chicago School, the payments system, too big to fail, trade route, transaction costs, two tier labour market, unorthodox policies, uranium enrichment, urban planning, value at risk, WikiLeaks, working-age population, zero-sum game
We also analysed all European systems, including Britain’s. Good suggestions from all over Europe, including England, contributed to our deliberations.’ The ‘Hartz IV’ reforms for the country were focused more on hiring rather than firing. Generous welfare payments for the unemployed (three-fifths of last wage) were slashed to a basic flat rate of €345 per month. Massive tax incentives were created for ‘mini-jobs’ – low-paid, often temporary work. Hartz promised that unemployment would halve. Initially it went up, over the 5 million level only previously seen in the Weimar Republic. The reforms were deeply unpopular, and led to Schröder’s narrow election defeat in 2005. Schröder was fired by the electorate – in part, for making his compatriots easier to fire. Early in 2011 I travelled to Frankfurt to speak to Otmar Issing, the most influential German economic policymaker in the first years of the euro.