This is what one of the world’s largest experiments in basic income looks like

From Meaghan Tobin and Márvio Dos Anjos / Rest of World: Mumbuca is a digital currency used in Maricà’s basic income program. Residents, with few eligibility requirements, can qualify for a monthly stipend to purchase goods and services using a smart phone or a card. The currency runs on the digital platform E-dinheiro and can only be spent in the city limits. Individuals cannot swap Mumbucas for national currency, but businesses can after a 48-hour waiting period and a 1% fee. Local currencies, which are popular in Brazil, help residents increase personal savings and, with increased stipends during the Covid-19 pandemic, allowed informal workers to stay home.

Click here to read the full story on Rest of World.

Issue Areas:

Alternative Forms of Income, Wellbeing Economics

Impact Areas:

Creating New Economic Paradigms

Actors:

Government

Communities Served:

—

Strategies:

Easing Economic Burdens for Individuals, Reallocating Government / Public Financing

Success Factors:

Addressing Underlying Issues, Providing Cash Instead Of Goods/Services, Using Creative Financing

Geographic Region:

South America

Countries:

Brazil

Date:

July 23, 2020

More Resources:

Conversation with Ai-jen Poo

Ai-jen Poo is the President of the National Domestic Workers Alliance and Director of Caring Across Generations. A nationally recognized expert on elder care, family care, the future of work, gender equality, immigration, and grassroots organizing, she is also the...

A Simple Fix Lifts Single Moms Out of Poverty in India’s Slums

From MaryLou Costa / Reasons to Be Cheerful: Fund a Mom gives 40 single mothers in Jaipur, India, $60 a month with no strings attached. The guaranteed income program helps them cover necessary expenses giving them the breathing room to...

Conversation with Paula Daniels

Paula Daniels co-founded the Center for Good Food Purchasing, a national initiative promoting sustainable food systems, building on her work as founder of the Los Angeles Food Policy Council. With a career spanning private law and public service, she focuses...

Conversation with Alfredo Jose Brillembourg

Alfredo Jose Brillembourg is the founder of Urban–Think Tank Design Group, with offices in New York, São Paulo, Caracas, Oslo, Geneva, and Cape Town. Through his leadership at Urban–Think Tank, he has spearheaded innovative architecture and urban design projects globally,...

This is what one of the world’s largest experiments in basic income looks like

From Meaghan Tobin and Márvio Dos Anjos / Rest of World: Mumbuca is a digital currency used in Maricà’s basic income program. Residents, with few eligibility requirements, can qualify for a monthly stipend to purchase goods and services using a...

Conversation with Donna Norton

Donna Norton is a founding member of MomsRising and serves as MomsRising’s Executive VP and Chief Advancement & Strategy Officer, helping to develop and drive the strategic direction of MomsRising’s agenda. Norton is an innovator and strategic manager with more...