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By Terrence Richard Blackman, Ph.D.
The recent Guyana Time article dismissing the idea of Universal Basic Income (UBI) as “something for nothing” reflects a simplistic and shortsighted view of a complex and potentially transformative policy proposal. UBI is more than just a cash handout; it is a strategic response to the structural inequalities exacerbated by the rapid economic changes Guyana is experiencing with its burgeoning oil wealth. The debate over UBI is not about political posturing or reckless spending but about envisioning a future where all Guyanese citizens can benefit equitably from the nation’s resources.
At its core, UBI is designed to address economic disparities by providing a guaranteed income to all citizens, ensuring that the wealth generated by the country’s natural resources is shared among everyone, not just a privileged few. This is not about giving people “something for nothing,” as the article suggests; instead, it recognizes that traditional economic models have failed to provide equitable opportunities and outcomes, particularly in an economy such as ours heavily reliant on the oil and gas industry.
In Guyana, the rapid inflow of oil revenues offers us a unique opportunity to implement a policy that empowers citizens, fosters economic resilience, and addresses long-standing social inequities. UBI could be a powerful economic inclusion tool, helping stabilize families, reduce poverty, and drive domestic demand. By providing a financial safety net, UBI allows individuals to take entrepreneurial risks, invest in education, and pursue better job opportunities without the constant fear of financial ruin.
The article’s attempt to link Clive Thomas’s UBI proposal with past Marxist policies and the failures of countries like Venezuela is misleading and unfair. Prof. Thomas’ advocacy for a Guyanese UBI is rooted in modern economic thinking, aimed at leveraging Guyana’s newfound wealth for social stability and inclusive growth. Comparing this to failed economic models of the past ignores the vastly different contexts and motivations.
China’s economic success, often cited in contrast to UBI, did not come solely from rejecting Marxist principles; it resulted from strategic state-led investment in infrastructure, education, and trade. Similarly, UBI should not be viewed as an isolated or simplistic policy but as part of a broader strategy to create a more balanced and resilient economy. It is not a one-size-fits-all solution nor a utopian fantasy. Properly structured, UBI could be phased in or targeted to ensure that it complements other forms of economic development rather than detracting from them.
The article raises valid concerns about the sustainability of UBI, especially given the fluctuating nature of global oil prices. However, rejecting UBI outright misses an opportunity to explore how it could be effectively implemented in Guyana. Rather than dismissing it as economically unfeasible, a more constructive approach would involve examining phased or targeted applications of UBI that align with Guyana’s specific economic circumstances.
Investing directly in citizens can have a multiplier effect on the economy by boosting domestic consumption, reducing poverty, and fostering a culture of entrepreneurship. UBI is not meant to replace jobs or undermine work ethics; instead, it serves as a safety net that allows individuals to engage in the labor market from a position of strength, not desperation. This is particularly important in a rapidly changing economy where automation, technological advancements, and external market forces can disrupt traditional employment opportunities.
The article argues that people derive dignity from work, a universally accepted point. However, UBI does not eliminate the need or desire to work; it simply provides a foundation that enables people to seek more meaningful and productive opportunities. By alleviating the constant stress of financial instability, UBI can empower individuals to pursue further education, start small businesses, or take on jobs that align with their skills and aspirations.
Countries experimenting with UBI, such as Finland and pilot projects in the United States, have demonstrated that providing a basic income can improve mental health, reduce poverty, and stimulate local economies. People do not stop working when they receive a basic income; instead, they often use its security to seek better work and invest in their communities. Guyana could learn from these experiments and adapt UBI to its unique economic and social context, using oil revenues to build a more inclusive economic model.
As the article suggests, it is easy to dismiss UBI as a political ploy or an attempt to buy votes. However, every policy, including those advanced by the current government, is ultimately about winning public support. The question should not be whether UBI is politically motivated but whether it can deliver tangible benefits to the people of Guyana. The focus of the debate should shift from political posturing to a rigorous examination of how UBI could be designed, implemented, and funded in a way that promotes long-term economic and social stability in Guyana.
Guyana stands at a historic crossroads, with its newfound oil wealth presenting both tremendous opportunities and significant challenges. The debate over UBI is emblematic of the broader conversation about how best to utilize these resources for the benefit of all Guyanese. Rather than rejecting bold ideas out of hand, this is a moment that calls for innovative thinking and a willingness to explore new economic models.
Universal Basic Income is neither a panacea nor a reckless giveaway. It is a policy that, if thoughtfully implemented, could help to create a more equitable, inclusive, and prosperous Guyana. It deserves careful consideration and serious debate, not reflexive dismissal. As the nation navigates its future, exploring all options that can contribute to a shared vision of prosperity for every citizen is imperative.
Dr. Terrence Richard Blackman is a member of the Guyanese diaspora. He is Chair and associate professor of mathematics and a founding member of the Undergraduate Program in Mathematics at Medgar Evers College. He is a former Dr. Martin Luther King Jr. Visiting Professor at MIT and a member of The School of Mathematics at The Institute for Advanced Study. He previously served as Dean of the School of Science, Health, and Technology at Medgar Evers College, where he has worked for almost thirty years. He graduated from Queen’s College, Guyana, Brooklyn College, CUNY, and the City University of New York Graduate School. He is the Founder and CEO of the Guyana Business Journal.
