A two-hour drive from the tech-fueled riches of San Francisco, Stockton, Calif., is a completely different world from its Silicon Valley neighbor. But the small city is taking a big bet to try to fix its lagging economy with a strategy that many of the tech elite have been largely only pontificating about: universal basic income, or cash handouts.
In 2013, Stockton became the most populous city in the United States to enter bankruptcy . The city of 300,000 was toppled when the housing bubble burst, its basic operating expenses dependent on developer fees and increasing property tax revenue that […]
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