The basic income: Initiating the needed discussion in industrial, work, and organizational psychology

Joachim Hüffmeier and Hannes Zacher

Industrial and Organizational Psychology, 2021, vol. 14, issue 4, 531-562

Abstract: The basic income (BI) involves regular and unconditional cash payments to all members of a political community, without the requirement or expectation to work in return. Whereas the BI is increasingly discussed by political parties, organizational practitioners, and in other academic disciplines, the field of industrial, work, and organizational (IWO) psychology has so far remained silent on the concept. In this article, we first explain why there is a growing interest in the BI and outline potential reasons why the BI, despite its topical relevance, has not been discussed by IWO psychologists. Next, to initiate the needed discussion on the BI, we outline the most important background information on the concept, including its definition, history, financial aspects, main criticisms, and potential advantages. We further provide first answers to common questions about the BI from an IWO psychology perspective, such as “(Why) would people still work if they received a BI?” We conclude with a discussion of potential positive and negative consequences of the BI as well implications for future theory development, empirical research, and practical applications.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cup:inorps:v:14:y:2021:i:4:p:531-562_15

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