As the solitary representative of the third party in a provincial legislature, you quickly realize the extent of your impotency. But on Tuesday, Dec. 6, 2016 in PEI, I had the rare pleasure of moving a motion which was unanimously approved by all parties in the House.

In the previous provincial election, in a rare expression of common agreement, all four party leaders who contested the campaign agreed that a Universal Basic Income policy is worth exploring. Economists from all sides of the political spectrum are open to the idea, and the federal government has also indicated a willingness to explore such programs.

Should PEI now proceed with a basic income pilot project as promoted in the motion, it would not be the first government to do so. The first in Canada was 40 years ago in Dauphin, Manitoba, and the provinces of Quebec and Ontario are currently in the process of creating their own initiatives. There is previous research and analysis to inform these efforts, and willing partners in governments, NGOs and academia with whom to collaborate and learn.

Furthermore, PEI's small size and clear boundaries provide an ideal scale for pilot projects exploring social issues and policy impacts at both provincial and community levels.

There is a long list of potential benefits that could come from a Universal Basic Income:

Reducing or eliminating poverty;

Improving health and mental health outcomes by addressing the social determinants of health;

Increasing educational attainment;

Reducing food insecurity;

Improving working conditions and reducing income insecurity;

Reducing crime and the associated social and economic costs;

Stimulating economic development by boosting the purchasing power of those most in need in our society;

Increasing demand for local products, and lowering greenhouse gas emissions;

Consolidating multiple social programs, reducing bureaucracy and red tape and improving accessibility;

Reducing the cost of administering multiple government social programs; and

Allowing people to take better control of and ownership over their lives and allowing them to be more productive members of society economically, socially, politically, artistically and in many other manners.

Elimination of poverty would have some very obvious and immediate benefits, but a Universal Basic Income would also have some more subtle -- and yet, in my mind, very exciting -- possible benefits: a universal basic income could enable the greatest unleashing of human potential ever seen.

Without economic security, these human resources too often go unrealized.

Throughout most of human history right up to the present, the ability to innovate in business, science, the arts, society and politics has been largely the preserve of those who had either independent means of their own, or else through great chance found support from wealthy patrons. It is not the case that people of independent means are inherently more creative, innovative or better leaders; these traits are widely distributed throughout society. But without economic security, these human resources too often go unrealized.

The knowledge that you could take risks by starting a new business, building a prototype for a new invention or taking the time to write what could be the next great PEI novel -- and still be assured the dignity and security of a roof over your head and food in your belly while doing so, even if your venture fails -- would quickly multiply the most valuable resource we've got: human capital.

Another way to look at it is that in economics, we tend to talk about resources being put to their highest and best use. Capital should be invested where it will obtain the highest returns, and a piece of real estate in a busy downtown core is not the appropriate place to build a two-bedroom bungalow.