Guaranteed Basic Income from the Perspective of Self‐Determination Theory

In capitalistic societies the concepts of income and labour are inseparable, and as such, providing all citizens with an unconditional living wage is a contentious issue. Capitalist ideals that emphasize individual effort, competition, and financial prosperity have spurred tremendous economic growth but underestimate human motivation and have implications for human wellbeing. The aim of this essay is to examine the implications of guaranteed basic income based on existing data from the perspective of self‐determination theory, a humanistic theory of motivation that considers both practical performance‐related outcomes as well as human flourishing. I discuss the motivational dynamics involved in labour participation rates, how basic income may impact basic psychological needs and wellbeing, how basic income may impact workplace environments, and whether neoliberal capitalist values are a useful framework through which to discuss basic income. From this perspective, the benefits of basic income to individuals and society are promising. A shift in values from hyper‐rational competitive ideologies towards more humanistic frameworks such as self‐determination theory may be beneficial for not only for basic income and management research, but also the evaluation of public policy.