Only a few years back, in 2012, the city of Stockton, California, was the “foreclosure capital” of the nation, with one in every 135 homes in foreclosure . The city was hit hard by the 2008 financial crisis, becoming the second-largest U.S. city to file for bankruptcy protection. Stockton left its bankruptcy in the rearview in February 2015, and now the city is trying out something potentially revolutionary—attempting to help its struggling residents escape the grip of poverty and housing insecurity with an experiment in Universal Basic Income (UBI).
The notion of a Universal Basic Income is nothing new, but […]
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