Universal or Unconditional Basic Income

To address the seemingly inevitable loss of jobs on a global scale, the concept of a universal basic income (UBI) (sometimes called unconditional income, guaranteed income, or social credit) has been suggested.1 The idea is that every citizen must have sufficient money on which to survive, so whether having paid employment or not, they would be given a set annual amount irrespective of means test, and this would be funded by the government through taxes and earnings from publicly owned enterprises. The concept is that it is necessary to keep people at least alive. Initially, UBI was perceived as a stabilization mechanism, but later, it has come to be recognized that increased job losses will ...

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