LET'S UNLOCK WORDS AND PHRASES 🔐
utopia
[ yoo-'toh-pee-uh ]
noun
The author's vision of a utopia inspired many to rethink societal structures and norms.
capitalism
[ 'kap-i-tl-iz-uhm ]
noun
Critics argue that unregulated capitalism can lead to widening income inequality.
vice
[ vahys ]
noun
Smoking is considered a vice by many health-conscious individuals.
deep-rooted
[ 'deep-'roo-tid ]
adjective
The tradition of celebrating the Lunar New Year is deep-rooted in many Asian cultures.
gross domestic product
phrase
The government uses Gross Domestic Product as a key indicator to measure the overall economic health of a country.
LET'S READ! 📖
Direction: Read the passage aloud. Then, read it silently.
In 1516, Sir Thomas More wrote Utopia, a novel about the political and social systems of an imaginary ideal nation. More addressed the issue of poverty by having one of the main characters exclaim, ""No penalty on earth will stop people from stealing, if it's their way of getting food.... It would be far more to the point to provide everyone with some means of livelihood."" Over 500 years later, income inequality and economic insecurity are still major problems, having become deep-rooted consequences of modern capitalism. This situation has inspired some economists and political strategists to look to More's Utopia for guidance.
Universal Basic Income (UBI), the idea of providing everyone in society with minimum income that would cover basic needs, regardless of employment status or living circumstances, is being tested in the world. Supporters argue this approach could eliminate poverty in society. UBI would provide money for things like food, shelter, and clothing, and, in the process, reduce stress on economies by increasing individual's buying power. Malnutrition and homelessness-- two of the worst and most widespread effects of poverty-- would also drop. Research has shown that well-nourished children perform better in school and have fewer behavioral problems, and students are better able to make consistent academic progress when they have stable living circumstances. Supporters also note that adults who do not need to work multiple jobs to make ends meet can focus on such things as starting their own business or learning new skills to increase employment opportunities.
Critics of UBI argue recipients would quit their job because there would be less incentive to work, and that they would spend their ""free money"" not on basic necessities but on vices such as drinking and gambling. Other criticisms of UBI are that it would encourage employers to decrease wages, and that it would take government money away from essential social programs, including food assistance, and the cost would simply be too high for governments to manage. Indeed, experts estimate countries could need to spend up to 35 percent of their gross domestic product to cover UBI for all their citizens. However, supporters insist that, because UBI would decrease the need for other social programs, government spending on healthcare, food assistance, and unemployment would fall.
Countries and cities around the world are experimenting with various small-scale versions of UBI. In a 12-year UBI trial in Kenya, all adults in some rural communities began receiving $22 every month from an aid organization. Initial findings show the majority of UBI recipients in Kenya invested this income in small businesses, children's school fees, medicine, and necessities. Very few spent on dead-end pursuits such as drinking and gambling; in fact prospect of having a brighter future encouraged them to be more responsible. Research also shows that, since the experiment began, people have been working more an making investments to increase their wealth. Although the results are encouraging, even proponents of UBI agree further study is necessary to determine how practical the idea would be on a broader scale.
COMPREHENSION CHECK 🧠 A. Directions: Identify if the statements are TRUE of FALSE. If the statement is FALSE, provide the correct answer.
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Utopia is a novel about the political and social systems of an imaginary ideal nation.
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Income inequality and economic insecurity are still major problems, having become deep-rooted consequences of global recession.
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Research has shown that well-nourished children perform better in schools and have fewer behavioral problems and students are better able to make consistent academic progress when they have accessible educational facilities.
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Experts estimate countries to spend up to 35 percent of their gross domestic product to cover UBI for all their citizens.
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Very few of the recipients in Kenya spent on dead-end pursuits such as drinking and gambling; in fact receiving financial support encouraged them to be more responsible.
B. Direction: Answer the following questions based on the article.
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What is Universal Basic Income (UBI), and how does it aim to address poverty?
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According to supporters of UBI, what are some potential benefits of implementing it?
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What are some criticisms of UBI mentioned in the article?
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What were some initial findings from the UBI trial in Kenya?
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What is the general consensus among proponents of UBI regarding its future implementation?
C. Direction: Match the words in column A with their synonyms in column B.
A | B |
---|---|
1. ideal | a. repercussion |
2. consequence | b. undertaking |
3. eliminate | c. epitome |
4. pursuit | d. tackle |
5. address | e. eradicate |