Alongside investment in education and healthcare, a basic income is the most effective way of eliminating extreme poverty. The World is drawing closer to a new era of jobless growth, in which automation and AI will drastically reduce the number of jobs which can be created by new business investment and growth. The way forward, as Muhammad Yunus has written, is to turn our young people from "job seekers" into "job creators", but the bit missing from his book is the need for a basic income which will support households through this transition, and ensure a reliable flow of money into even poor and remote communities. The costs of such a scheme are also greatly exaggerated. Just a modest payment of $22 per month to the poorest billion people in the World could be paid for simply by eliminating Global Tax Havens and diverting this revenue to international aid.
UBI can be the basis for building sustainable local communities where young people will stay because they have a future. Indeed one of the few aspects of a basic income which is not often discussed is its role as an anchor to retain educated and innovative young people in the countries where they are needed. The growing disparity between rich and poor communities could drive overwhelming movements around the World of young people living in poverty who have "nothing to lose" today. But if becoming an economic migrant means giving up the right to the security of a guaranteed basic income in their home country, a lot more people will choose to stay put and contribute by transforming their own communities into centres of innovation and growth.