Could basic income solve APAC wealth inequality?

Written on October 15th, 2015 in politics Comments Off

Published on Deal Street Asia, by Shiwen Yap, Oct 12, 2015.

With its fragmented economies, diverse language and geographies, as well as differing developmental status, the Asia Pacific (APAC) region is often seen as a challenging regional economy for businesses to operate in. Another major issue is the wealth inequality seen across the region, especially in major economies like India, the Philippines and Indonesia.  

The key takeaway from the economic success of most Western economies – at least from the 1960s to the early 1990s – was their reliance of middle-class consumption internally, in order to fuel their economic growth. Similar patterns of developments were seen in Japan and are being replicated to some degree in China, India and Indonesia.

Today technologies like robotics, automation, and 3D printing are disrupting established work paradigms and practices across the manufacturing and logistics sectors With cost-based competition and differentiation simply a downward spiral along the value chain, what is the most viable approach for government to adopt in preparing their people and economies for the knowledge-driven 21st Century? One of the solutions is basic income.

Basic income: … //

… Endgame:

  • Putting aside all ideology and ethics, it is in the enlightened self-interest of businesspeople, oligarchs and merchants to resolve issues of income inequality. Disparities in wealth and general income inequality breeds social disorder, resulting in civil discontent that can impact positive business outcomes.
  • A population with less disparity in wealth equates to a market where consumers have higher levels of discretionary income with which they can consume goods and services. This creates a virtuous cycle that generally tends towards positive social and economic outcomes – for society, the government and the business community of a nation … //

… (full text).

Related Links:

Other Links:

Indonesia asks four countries for help to fight fires, on Channel News Asia, Oct 8, 2015: Indonesia’s president says he has asked Singapore, Russia, Malaysia and Japan for help to put out fires that have sent choking smoke drifting across the region for weeks;

(see on en.wikipedia: 2015 Southeast Asian haze is an air pollution crisis affecting several countries in Southeast Asia, including Brunei, Indonesia (especially its islands of Sumatra and Kalimantan), Malaysia, Singapore, Southern Thailand, and Vietnam, and possibly Cambodia and Central Philippines …);

The Economic Crisis Dates Back to the 1970s – Finance, Pensions, Job Security (2012), 127.55 min, uploaded by nice jobb, Oct 3, 2015 … (born April 1, 1942) he is an American Marxist economist, well known for his work on Marxian economics, economic methodology, and class;

How the fall of Qaddafi gave rise to Europe’s migrant crisis (+video), on The Christian Monitor, by Dan Murphy, April 21, 2015;

… and this:

Visit Germany - mainly for American Tourists, uploded by woltersworld:

Website: – Wolters World/Visit Germany: one of Mark’s favorite countries in the world (he lived in Berlin for three years) and always love visiting again at Christmas time or any other festival time (Oktoberfest in Munich or Carneval in Cologne).

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