Universal Basic Income – Georgian Reality and Perspectives
The aim of the research done by the Module of Economics of School of Civic Action is to overview Universal Basic Income ( UBI ) as a social-economic phenomenon, to explain the advantages and disadvantages of UBI.
Part of the document is dedicated to the already existing experimental examples of the UBI. We tried to show exactly what was done wrong and what makes those experiments valuable.
The significant part of our research is the overview of currently existing social welfare programs in Georgia because UBI is believed to be an alternative for them. In order to evaluate how realistic UBI is in Georgia, we calculated changes of several economic factors in dynamic. We have also discussed the political side of implementing UBI. Calculated GDP, demographics, price index and spendings of the budget and made our predictions for 5-10 years period.
After thoroughly researching all the above mentioned, we came to the conclusion that implementing UBI in Georgia in short and medium term is highly unlike. Although we tried to cut the expenses from the budget, we were unable to accumulate enough financial resources to fund UBI.
The main aim of our research is not to make subjective conclusions but to create an academic document in Georgia that is the first of its kind. The document that will be useful for people who are interested in this subject and who, after reading it, will have his or her own view on UBI based on the information we have provided. We also did our best to prove why UBI is still far from being implemented in Georgia because of the economic reality, even if there is political support.
Full version is available in Georgian only.