The impact of unconditional basic income on the satisfaction of basic needs in the context of different socio-economic systems: advantages and limitations

Abstract

The article examines the relationship between the introduction of unconditional basic income (UBI) and the satisfaction of needs according to the motivation theories of A. Maslow, D. McClelland, and others. UBI is a guaranteed minimum, which the state pays to every citizen, regardless of his contribution to the economy. It has been found that the idea of UBI has a long history, but its academic research began only in the second half of the 20th century due to the topic’s potential in reforming the social protection systems of developed countries. The purpose of the article is to assess the satisfaction of human needs as a result of the introduction of UBI in the context of various socio-economic systems (capitalism, socialism, socialism with Chinese characteristics, and communism). During the research, general scientific methods of analysis and synthesis, induction and deduction were used. The content of motivation theories as a whole is highlighted and their evolution is briefly outlined. It is determined that the basic income should ensure the satisfaction of the fundamental needs of the first and second levels and contribute to increasing the level of the individual’s needs. It is shown that the implementation of the UBI in socio-economic systems built on the foundations of various ideologies is most likely to lead to positive consequences, despite the existing limitations. It is concluded that the main result of USI’s application will be the weakening of competition for resources and the formation of potential for the individual’s self-development, which would contribute to the growth of human capital. At the same time, it is emphasized that it is not impossible to solve, with the help of basic income the fundamental problems of inequality, which is characteristic of both developing and developed countries, and which causes competition. Through further research, it will be possible to develop more effective and balanced approaches to the use of basic income in economic systems, taking into account the achievement of the Sustainable Development Goals.