Abstract ▼ AI-Helper

Over the past few years Korea has achieved rapid economic growth, while the deepening polarization of income has negatively affected Korea economy and society. It can be the reason of this negative effect on economy that the increased income by the economic growth has not been distributed socially, ...

Over the past few years Korea has achieved rapid economic growth, while the deepening polarization of income has negatively affected Korea economy and society. It can be the reason of this negative effect on economy that the increased income by the economic growth has not been distributed socially, but overly focused on one part of social class. One of the important and powerful solution of social polarization could be the strengthening of the income distribution. In these circumstances, the social interest and discussion on the universal welfare system and on the basic income as the means of income redistribution have been increasing. In this study, a system dynamic analysis was conducted to find how an universal cash payment as basic income providing cash benefits impacts on the promotion of consumption in private sector, of local jobs and of local economic organizations. Recently, the poor energy consumption ability of energy poverty became one of the social problems. Also it was analysed how an energy payment-in-kind as basic income influences on the energy consumption of the region, the energy production capacity, the promotion of local energy. The universal cash payment and energy payment-in-kind as the basic income policy showed similar and positive effects on the local economy system and on the local energy system respectively.

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