Elements
A system of guaranteed minimum income can consist of several elements, most notably:
- a minimum wage, either set by law or resulting from negotiations of employers or their organizations with trade unions;
- a calculation of the social minimum, usually below the minimum wage;
- a safety net, to help citizens or families without sufficient financial means survive at the social minimum. This may be a transfer or, in some cases, a loan, and is generally conditional to availability for work, performance of community services, some kind of social contract, or commitment to a reintegration trajectory;
- child support by the state;
- student loans and grants;
- state pension for the elderly.
Read more about this topic: Guaranteed Minimum Income
Famous quotes containing the word elements:
“psychologist
It is through friendships that teenagers learn to take responsibility, provide support, and give their loyalty to non- family members. It is also in teenage friendships that young people find confidants with whom to share thoughts and feelings that they are not comfortable sharing with their parents. Such sharing becomes one of the elements of true intimacy, which will be established later.”
—David Elkind (20th century)
“Barbarisation may be defined as a cultural process whereby an attained condition of high value is gradually overrun and superseded by elements of lower quality.”
—Johan Huizinga (1872–1945)
“Our institutions have a potent digestion, and may in time convert and assimilate to good all elements thrown in, however originally alien.”
—Herman Melville (1819–1891)