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| Lee Yoon-ki |
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With the outbreak of the COVID-19 pandemic, Korea's economy not only recorded one of its worst economic contractions since the Great Recession of 2008, but also shrank for the first time in 22 years since the 1998 Asian Financial crisis. In the midst of this economic turmoil, a fundamental question lies at the heart of the discussion: how is the pandemic undermining social justice?
Social justice means that everyone has an equal opportunity to education, employment, healthcare and security. However, the outbreak has amplified health, income and education inequalities, and also exacerbated economic polarization.
To make matters worse, the "pandemic divide" has hit low-income earners and in-person service providers particularly hard and is widening the schism between Korea's haves and have-nots. Hence, an inclusive social safety net is required to reduce inequality and help those in desperate need.
The COVID-19 pandemic has led to a marked increase in the public discourse of a universal basic income (UBI) throughout the world. UBI can be defined as an unconditional, regular, guaranteed monthly payment to all citizens. As this policy has gained more traction, several countries have started experimenting with UBI.
However, this concept has become notably popular in Korea as the largest UBI trial in Asia is being conducted in Gyeonggi Province.
Before exploring the practical benefits of UBI, it is imperative to understand how UBI and social justice are intrinsically interconnected.
In "Real Freedom for All (1995)," Van Parijs argued that if we truly care about liberty for all, we should enhance freedom for those worse off than others. In a similar vein, John Rawls put forth his famous theory of "justice as fairness" in "A Theory of Justice (1971)" contending that a system of fair equality of opportunity is not enough for a just society.
Instead, we should maximize the well-being of the least advantaged group. As such, UBI promotes egalitarian principles of justice because it not only provides a lifeline for those in desperate need but also guarantees equal opportunities for all.
What are the advantages conferred by UBI?
First, a guaranteed basic income would help individuals fulfil their potential by freeing them from simply working for a living. According to a recent report by the Korea Development Institute, Korea was among the unhappiest countries in the OECD. Another survey found that employee's happiness is more dependent on their job satisfaction level than salary and benefits.
Many Koreans are unhappy about their work and often suffer from burnout characterized by prolonged job stress. A well-designed UBI program will allow individuals to pursue a career that feels valuable and worthwhile.
Given Korea's record-high unemployment levels, UBI will help to ease the distress of those seeking jobs and also provide a safety net for young entrepreneurs seeking to start a new business or startup without the risk of losing it all should their endeavors fail. This allows people to follow their artistic passions and innovate to ultimately contribute to society.
The recent pandemic has revealed how essential workers are an integral part of Korean society but largely go unrecognized. Hence, UBI would financially support those engaged in important but underpaid labor such as warehouse workers, social workers, delivery workers, and sanitation workers.
It would also legitimize non-paid community service work such as taking care of children and the elderly. Thus, UBI will help to restore their social recognition, esteem, and dignity of work.
Once merely a utopian proposal, UBI is now widely discussed and piloted around the world and experimental evidence for this policy has been promising so far. The world's most robust pilot trial of UBI was conducted in Finland from 2017 to 2018, which revealed that guaranteed income is linked to higher levels of life satisfaction and improved mental and emotional health.
Most importantly, the findings suggest that a basic income doesn't seem to discourage people from working. A UBI will help to avoid the "welfare trap" of existing welfare systems where people receiving cash assistance programs become overly reliant on the state.
In the past, beneficiaries had to maintain a low-income status which created a disincentive to work because the financial reward was not significant. However, since UBI provides unconditional payment regardless of income status, beneficiaries can simultaneously benefit from UBI and also work which leads to more employment.
Social progress is only possible as long as people value social justice and remain committed to equality. A UBI in Korea will promote social justice by alleviating the financial burdens of society's least advantaged groups and empower individuals to shape their own future.
In this sense, UBI is compatible with freedom and social justice because it will improve the fate of the worst-off hit hard by the pandemic. Moreover, a basic income system will grant more bargaining power to essential workers, promote self-respect, and restore the dignity of work on a societal level.
Now is the time to act to create an equitable and just society for all.
Lee Yoon-ki is a student at Hanyang University.
