Basic income: An early Icelandic experiment
Old age, sickness and/or physical and/or mental disability may limit the ability of an individual to generate enough income to cover basic cost of living. Most developed nations provide financial assistance for persons with limited ability to support themselves economically. In 1974, the Icelandic P...
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Reykjavik: University of Iceland, Institute of Economic Studies (IoES)
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ftzbwkiel:oai:econstor.eu:10419/273295 2024-01-14T10:07:53+01:00 Basic income: An early Icelandic experiment Karlsson, Jóhannes Thórólfur Matthiasson 2018 http://hdl.handle.net/10419/273295 eng eng Reykjavik: University of Iceland, Institute of Economic Studies (IoES) Series: Working Paper Series No. W18:01 gbv-ppn:102550979X http://hdl.handle.net/10419/273295 http://www.econstor.eu/dspace/Nutzungsbedingungen ddc:330 basic income Iceland Grundeinkommen Island doc-type:workingPaper 2018 ftzbwkiel 2023-12-18T00:45:27Z Old age, sickness and/or physical and/or mental disability may limit the ability of an individual to generate enough income to cover basic cost of living. Most developed nations provide financial assistance for persons with limited ability to support themselves economically. In 1974, the Icelandic Parliament, headed by a left-wing government passed legislation providing a tax credit, payable to taxpayers under certain conditions. The tax allowance was applied firstly to settle the taxes and public levies owed by the taxpayer, with any amount remaining paid out to the individual. This system can be seen as a first, limited attempt at establishing a partial universal basic income of sorts. The lesson is that basic income, would need strong supporters if implemented, where the role of the government and/or the parliament would be mapped. Its supporters must be able to withstand the pressure from the social partners in the labour market because of the interactivity of the Social security system and the pension fund system which is not part of the fiscal system in Iceland. The conflict of interests becomes apparent. Report Iceland EconStor (German National Library of Economics, ZBW) |
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EconStor (German National Library of Economics, ZBW) |
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ftzbwkiel |
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English |
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ddc:330 basic income Iceland Grundeinkommen Island |
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ddc:330 basic income Iceland Grundeinkommen Island Karlsson, Jóhannes Thórólfur Matthiasson Basic income: An early Icelandic experiment |
topic_facet |
ddc:330 basic income Iceland Grundeinkommen Island |
description |
Old age, sickness and/or physical and/or mental disability may limit the ability of an individual to generate enough income to cover basic cost of living. Most developed nations provide financial assistance for persons with limited ability to support themselves economically. In 1974, the Icelandic Parliament, headed by a left-wing government passed legislation providing a tax credit, payable to taxpayers under certain conditions. The tax allowance was applied firstly to settle the taxes and public levies owed by the taxpayer, with any amount remaining paid out to the individual. This system can be seen as a first, limited attempt at establishing a partial universal basic income of sorts. The lesson is that basic income, would need strong supporters if implemented, where the role of the government and/or the parliament would be mapped. Its supporters must be able to withstand the pressure from the social partners in the labour market because of the interactivity of the Social security system and the pension fund system which is not part of the fiscal system in Iceland. The conflict of interests becomes apparent. |
format |
Report |
author |
Karlsson, Jóhannes Thórólfur Matthiasson |
author_facet |
Karlsson, Jóhannes Thórólfur Matthiasson |
author_sort |
Karlsson, Jóhannes |
title |
Basic income: An early Icelandic experiment |
title_short |
Basic income: An early Icelandic experiment |
title_full |
Basic income: An early Icelandic experiment |
title_fullStr |
Basic income: An early Icelandic experiment |
title_full_unstemmed |
Basic income: An early Icelandic experiment |
title_sort |
basic income: an early icelandic experiment |
publisher |
Reykjavik: University of Iceland, Institute of Economic Studies (IoES) |
publishDate |
2018 |
url |
http://hdl.handle.net/10419/273295 |
genre |
Iceland |
genre_facet |
Iceland |
op_relation |
Series: Working Paper Series No. W18:01 gbv-ppn:102550979X http://hdl.handle.net/10419/273295 |
op_rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
_version_ |
1788062294796664832 |