Successful implementation of universal basic income (UBI) for some developing economies
What it does
It provides a measure for reviving economy with the strategy of universal basic income for next 12 months. The project also provides the relevant economic numbers and performs a simulation to analyse the scenarios with UBI or targeted social security.
How I built it
The idea of UBI is suggested as a tool for improved wealth distribution and revival of economic activities. It is tested in the current scenario using numerical (Monte Carlo type) simulations.
Challenges I ran into
Building the model based on large scale computational simulation, adding the complexity of the economic activity in the model, calculating the inflation effect of UBI and developing the strategy of balanced fiscal deficit.
What I learned
How effective UBI can be in reviving the economy and improve the distribution of wealth.
What's next for Helicopter Money for 12 months as Unconditional Basic Income
Proving unconditional payment of 2500 chf to each individual for next 12 months using a prepaid card.