Buy Universal Basic Income (UBI)

What is Universal Basic Income?

Universal Basic Income (UBI) is a concept in social welfare that proposes providing all citizens of a particular jurisdiction with a regular, unconditional sum of money, regardless of other income. Its intent is to alleviate poverty, improve economic security, and address income inequality.

How does Universal Basic Income work?

UBI functions by providing periodic payments to individuals without requiring a means test or work requirement. The income is intended to cover basic living expenses, ensuring everyone has a minimum level of financial security. The concept can be implemented through governmental systems or experimental approaches using digital currencies on blockchain platforms, as seen in some crypto projects.

What are the potential use cases for Universal Basic Income?

Potential use cases for UBI include reducing extreme poverty, enhancing income stability, and fostering social inclusion. It could be used to provide a guaranteed income for all individuals, encouraging investments in education and skill development, and stimulating economic growth by increasing consumer spending. UBI has been piloted in various places like Finland and the state of Alaska in the USA.

What is the history of Universal Basic Income?

The idea of UBI has been around for centuries, with early proposals dating back to the 16th century. Notable historical advocates include Thomas Paine and Bertrand Russell. The concept gained renewed interest in the 20th century and has been the subject of various pilot projects worldwide. Key milestones include the Swiss referendum on basic income in 2016 and discussions on its role in addressing technological unemployment in the 21st century.