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Abenomics Economics Society

Last week’s discussion focused on Universal Basic Income, a concept where everyone is regularly, and unconditionally, given a certain amount of money by the government.

IB boy

We focused on the issues with implementing the policy, like funding it, as well as the positive and negative impacts it may cause. A key point of debate was whether people would become more motivated to work and be entrepreneurial, or instead become reliant on it and stop working as a result; we also related this to the issue of inflation resulting from people having a larger disposable income. We concluded that the idea is really only feasible with specific groups of people, and possibly will be more achievable in the future as well. Overall the session helped everyone develop their ideas about Macroeconomic concepts which are crucial to Economics, and our daily lives.

Witek and Eryk

Year 13 Students