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Universal Basic Incomes (UBI) is a concept that has gained significant attention in recent years, particularly in discussions surrounding economic inequality and the future of work. Here's a comprehensive overview:
Definition: Universal Basic Income is a governmental program where all citizens or residents of a country regularly receive a set amount of money, unconditionally and regardless of other income. The goal is to provide everyone with a basic level of financial security.
Purpose: UBI aims to address poverty and inequality by ensuring that every individual has enough income to cover their basic needs, such as food, shelter, and healthcare. It also seeks to provide a safety net in the face of automation-related job displacement and changing labor markets.
Variations: There are different models of UBI, varying in the amount provided, funding mechanisms, and eligibility criteria. Some proposals suggest replacing existing welfare programs with UBI, while others suggest it as a supplement.