Name: What If Everyone Had a Free Basic Income?
Uploaded: 2019-05-13T18:29:35.000Z
Duration: 5 min 2 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

00:00:04,838 --> 00:00:07,574
What does wealth look like to you?

In today's world, the richest
1% of the population

Well, let's level the playing field
and see what we get.

and here's what would happen
if money was distributed equally.

That's more money than most countries
produce in goods and services every year!

you're probably aware that wealth
distribution in the world, is, well...

And studies show that the
divide is only getting bigger.

But, what if we took all the world's
cash, investments, assets, et cetera,

sold them, and gave every person
in the world an equal share?

If you liquidated all of
the world's productive assets

and combined them with all
the money in the global economy,

that if you stacked that
$250 trillion in 100 dollar bills,

it would stretch more than
half way to the moon!

and divide it between the current
world population of 7.7 billion,

The equal distribution
of the world's wealth

would certainly give a lot of
people a much needed leg-up.

Those living in extreme poverty
and lower-income households

could afford more food,
water, clothing, shelter,

and other necessities that
some of us take for granted.

In a world of 7.7 billion people
who are motivated by different things,

and who have different skillsets,
maybe not long at all.

The first big hurdle
would be financial education.

In order to keep
relative wealth equality,

people would have to
be smart with their money.

all entertainment and
stick to the bare necessities,

all entertainment and
stick to the bare necessities, 
but, don't do this...

to the quality of goods and services in
a world where everyone makes the same,

and there's no incentive
to innovate or work harder.

Without strict regulations,
you can imagine how

this egalitarian society could
revert to one very much like our own.

or simply want to make
a positive contribution to society.

invest their share of
the world's loot into new ideas.

They could convince others that the
product of their ideas is worth paying for.

And if enough people buy into it,
once again,

the market will give rise to millionaires,
billionaires, and huge corporations.

In short, some people will use
their share to become very rich,

while others may fall back into
poverty due to lack of education,

or unforseen circumstances
like an illness, or a natural disaster.

But despite a resurgence
of an economic divide,

Universal basic income projects
have been tested around the world

when guaranteed a lump sum of money
every year, work effort decreased,

they also showed that
universal basic income

reduced medical costs
in mental health cases,

but we're still learning how
to make it work effectively.

Naturally, a perfect world, where everyone
has the same amount of money isn't feasible;

ensure everyone gets enough
food, water, clothing, and shelter.

If you want more than that,
you're gonna have to work for it.

and keep an eye out
for good opportunities.

Are you waiting for that billion dollar
idea to pop into your head?

but it might help if you start by
asking yourself, "What If?"

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What If Everyone Had a Free Basic Income?

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