Thursday, December 07, 2017

Universal Basic Income Explained

A universal basic income (UBI) has been proposed now and then in different places as a response to income inequality, unemployment, low wages, automation, and inadequate social safety nets. Everyone would be given enough money for basic survival, whether or not they also have a paid job. The theory is that some will still work and earn extra money, while those who cannot work (the elderly and disabled), can't find a job, or choose not to work (new parents, family caregivers, students) will not starve. Others will find the freedom to start their own business, go to school, or do volunteer work. Kurzgesagt explains the basic principles of UBI, the many ways it could be implemented, and the arguments for and against. Don't hold your breath, though.

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