Universal inheritance: Difference between revisions

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'''Universal inheritance''' or '''basic inheritance''' is a proposal for all [[citizen]]s, upon reaching a [[Age of majority|certain age]], to receive an economic [[Financial endowment|endowment]] from the [[State (polity)|State]].<ref>{{cite web |title=The Campaign for Universal Inheritance |url=https://www.universal-inheritance.org/}}</ref><ref name="estrategia">{{cite web |title=España 2050. Fundamentos y propuestas para una Estrategia Nacional de Largo Plazo |url=https://www.lamoncloa.gob.es/presidente/actividades/Documents/2021/200521-Estrategia_Espana_2050.pdf |website=Gobierno de España |language=es |date=2021}}</ref>

[[Inheritance]] is one of the legal and economic elements that most contributes to perpetuating [[Economic inequality|inequality]].<ref name="estrategia"/><ref>{{cite news |last1=Zumbrun |first1=Josh |title=The Wealthy in Florence Today Are the Same Families as 600 Years Ago |url=https://www.wsj.com/articles/BL-REB-35714 |publisher=The Wall Street Journal |date=May 19, 2016}}</ref><ref>{{cite journal |last1=Palomino |first1=Juan C. |title=Wealth Inequality, Intergenerational Transfers and Family Background |journal=Social Science Research Network |date=July 24, 2021 |doi=10.2139/ssrn.3623547 |url=https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3623547}}</ref> Thus, fromFrom [[Heterodox economics|heterodox economic]] perspectives, inheritance has been criticized both from a historical standpoint, as property and inequality in its distribution couldn't be understood without the [[Primitive accumulation of capital|original accumulation of capital]]; and from an ethical and justice standpoint, as no human being would have the right to greater [[ownership]] over Earth's wealth solely by the circumstance of being born into one family or another.<ref>{{cite book |last1=Marx |first1=Karl |author-link=Karl Marx |title=[[Das Kapital]] |date=1867}}</ref><ref>{{cite book |last1=Piketty |first1=Thomas |author-link=Thomas Piketty |title=[[Capital in the Twenty-First Century]] |date=2013}}</ref>

In this manner, universal inheritance has been proposed as a way to offset wealth distribution inequality, funded through [[progressive tax]]es.<ref name="Piketty">{{cite news |title=Piketty propone un sistema de "herencia" universal pagado por los multimillonarios |url=https://www.expansion.com/economia/2019/11/30/5de24143e5fdea41768b461d.html |publisher=Expansión |date=30 November 2019 |language=es}}</ref><ref>{{cite news |last1=Torres López |first1=Juan |title=Herencia universal: una propuesta que enreda y no soluciona mucho |url=https://blogs.publico.es/juantorres/2023/05/05/herencia-universal-una-propuesta-que-enreda-y-no-soluciona-mucho/ |publisher=Público |date=5 May 2023 |language=es}}</ref>

The first proposal for universal inheritance was made by [[Thomas Paine]] in 1795,<ref>{{cite news |title=¿Es factible la herencia universal de 20.000 euros a quienes cumplan 18 años que propone Yolanda Díaz? |url=https://www.elnacional.cat/oneconomia/es/economia/es-factible-herencia-universal-20000-euros-cumplan-18-anos-propone-yolanda-diaz_1055496_102.html |publisher=On Economia |date=4 July 2023 |language=es}}</ref> although similar measures have been proposed in different countries and historical moments since then.<ref name="Piketty"/><ref>{{Cite web |last=Fantini |first=Ellen |date=2022-12-09 |title=Germany Considers €20,000 Basic Inheritance |url=https://europeanconservative.com/articles/news/germany-considers-e20000-basic-inheritance/ |website=europeanconservative.com |language=en-US}}</ref>

Among the criticisms of this measure is the fact that it's proposed as an inheritance for all citizens, regardless of their economic status.<ref>{{cite news |last1=Pérez |first1=Patricia |title=Herencia universal para jóvenes: así es la polémica medida que plantea Yolanda Díaz |url=https://www.elcomercio.es/elecciones/generales/herencia-universal-jovenes-polemica-medida-yolanda-diaz-sumar-20230704185902-nt.html |publisher=El Comercio |date=4 July 2023 |language=es}}</ref> Additionally, it could lead to a reduction in the effort of young individuals to educate themselves and contribute through their work to the [[well-being]] of the entire society.<ref>{{cite news |last1=Soriano |first1=Domingo |title=¿Tiene algún sentido regalar 20.000 euros a los 18 años? Las claves de la propuesta más peculiar de Yolanda Díaz |url=https://www.libremercado.com/2023-05-06/domingo-soriano-tiene-algun-sentido-regalar-20-000-euros-a-los-18-anos-las-claves-de-la-propuesta-mas-peculiar-de-yolanda-diaz-7011849/ |publisher=Libre Mercado |date=6 May 2023 |language=es}}</ref>

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== See also ==

{{Portal|Economics|Money}}

{{div col|colwidth=25em}}

* [[Capital accumulation]]

* [[Citizen's dividend]]

* [[Grant (money)]]

* [[Job guarantee]]

* [[Living wage]]

* [[Participation income]]

* [[Reduction of hours of work (disambiguation)|Reduction of hours of work]]

* [[Social dividend]]

* [[Social safety net]]

* [[Subsidy]]

* [[Universal basic income]]

* [[Wage subsidy]]

* [[Workfare]]

{{div col end}}

== References ==