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id	eprints-23032
recordtype	eprints
institution	SOAS, University of London
collection	SOAS Research Online
language	English
language_search	English
topic	H Social Sciences (General)
description	This article argues that the emancipatory value of a basic income is greater than its monetary value, drawing on the results of a large-scale basic income scheme conducted in the Indian State of Madhya Pradesh between 2010 and 2013. The scheme was evaluated by comparing households in villages where everyone received a small cash payment each month with households in similar villages where no one did. The evaluation results showed much stronger than anticipated benefits of a very modest basic income, equivalent to about a third of subsistence. It is argued here that this arises because cash payments alleviate the contrived scarcity of money itself, a cause of chronic indebtedness and impoverishment. Using data and illustrative case studies on debt, savings and financial inclusion, the article demonstrates how a basic income improves economic security beyond its monetary value, which can be termed its emancipatory value. It further concludes that a basic income would have an emancipatory effect for the growing precariat around the world.
format	Journal Article
author	Standing, Guy
author_facet	Standing, Guy
authorStr	Standing, Guy
author_letter	Standing, Guy
title	Why basic income's emancipatory value exceeds its monetary value
publisher	De Gruyter
publishDate	2015
url	https://eprints.soas.ac.uk/23032/