What is Universal Basic Income (UBI)?
A Universal Basic Income (UBI) is a social welfare program that provides a set amount of money to every adult citizen regularly. This payment is unconditional, meaning it is not dependent on income, employment status, or other factors. The goal of UBI is to provide a financial safety net for all citizens, reducing poverty and inequality.
Core Principles of UBI
- Universality: UBI is provided to all adult citizens regardless of their income, employment status, or other factors.
- Unconditionality: There are no requirements or obligations attached to receiving UBI.
- Regularity: UBI is provided on a regular basis, such as monthly or quarterly.
- Sufficient: The amount of UBI should be enough to cover basic needs such as food, housing, and healthcare.
Historical Context
While the concept of UBI has gained significant traction in recent years, it is not a new idea. Philosophers and economists have discussed similar concepts for centuries. The modern UBI movement has been influenced by various factors, including technological advancements, increasing income inequality, and concerns about job displacement due to automation.
Discussion Questions:
- What are the potential benefits of a UBI system?
- What are the potential drawbacks of a UBI system?
- How could a UBI be funded?
- What ethical considerations arise from implementing a UBI?
In the next lesson, we will delve deeper into the potential advantages and disadvantages of UBI.
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