By Crystal Hsu
Nobel laureate Angus Deaton yesterday lent support to basic income grants as part of government efforts to mitigate wealth and consumption inequality.
“The government should take care of people with low income and should be pushing basic income grants,” the economist told a forum at the Taipei International Convention Center.
Basic income grants, or guaranteed income, are a government-ensured guarantee that no citizen’s income falls below the level necessary to meet their most basic needs.
Advocates say the program is an efficient, effective and equitable solution to poverty that not only promotes individual freedom, but also keeps the beneficial aspects of a market economy in place.
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