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Concept
Guaranteed minimum income
Summary
Guaranteed minimum income (GMI), also called minimum income (or mincome for short), is a social-welfare system that guarantees all citizens or families an income sufficient to live on, provided that certain eligibility conditions are met, typically: citizenship; a means test; and either availability to participate in the labor market, or willingness to perform community services.
The primary goal of a guaranteed minimum income is reduction of poverty. In circumstances when citizenship is the sole qualification, the program becomes a universal basic income system.
A system of guaranteed minimum income can consist of several elements, most notably:
Calculation of the social minimum, usually below the minimum wage
Social safety net that helps those without sufficient financial means survive at the social minimum through payments or a loan, generally conditional on availability for work, performance of community services, some kind of social contract, or commitment to a social integration trajectory
State child support
Student loan and grants
State pensions or social pensions for the elderly
Disability pensions for those who physically can't work
Universal basic income
Basic income means the provision of identical payments from a government to all of its citizens. Guaranteed minimum income is a system of payments (possibly only one) by a government to citizens who fail to meet one or more means tests. While most modern countries have some form of GMI, a basic income is rare.
Persian monarch Cyrus the Great ( ca 590-ca 529 B.C.), whose government used a regulated minimum wage, also provided special rations to families when a child was born.
The Roman Republic and Empire offered the Cura Annonae, a regular distribution of free or subsidized grain or bread to poorer residents. The grain subsidy was first introduced by Gaius Gracchus in 123 B.C., then further institutionalized by Julius Caesar and Augustus Caesar.
The first Sunni Muslim Caliph Abu Bakr, who came to power in 632 C.E.
Official source
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