For labour market entrants facing an economy with 40% of us in insecure work, the choices (for those aside from a lucky few) are largely between waiting to be notified of shifts via text message, rolling short-term contracts in the public sector, or studying for years and years to end up in the same trap anyway. And that’s all before the economy really tanks.

We create enough value for everyone to have a basic living income. Australia is one of the richest countries in a world that has never been richer. Our GDP is on track to reach AUD$73,123.05 per capita this year. That we live with poverty, insecurity and economic anxiety is a matter of political choice, not necessity. We create enough value for everyone to have a basic living income. That’s why I’d like to propose every citizen, every permanent resident, receive a basic income of AUD$30,000 per year. No exceptions. No means testing. A universal minimum income.

Imagine the creativity, innovation and enterprise that would be unleashed if every citizen were guaranteed a living. Imagine the savings with no centrelink department required to police and punish citizens.

Universal income provides the material basis for a fuller development of human potential. Social enterprises, cooperatives and small businesses could be started without participants worrying where the next pay cheque would come from. Artists and musicians could focus on their work. More of us would be freed to volunteer our time for the public good. Some workers would no longer be faced with the unenviable position of having to choose between supporting their families and degrading their local environment. And all of us would have the option to pursue further education. Universal income won’t solve all our problems, but it puts us in a stronger position from which to start to solve them.

A universal income would drive productivity growth and innovation across many fields. All while guaranteeing consumer demand. True prosperity and progress never came from cutting margins here and there but rather from radically new ways of doing business.