Via Ray Dalio of Bridgewater: What is Universal Basic Income (UBI)? In general, UBI is a type of cash transfer that is: Universal: every citizen receives the transfer regardless of employment status or income.
Unconditional: recipients have no restrictions on how they can spend the cash.
Basic: the amount will cover “basic needs” and will constitute a “living wage.” Long-Term: the cash transfers will last for the long term, e.g. entirety of the receipt’s life. UBI isn’t an especially new idea ; even Thomas Paine was an advocate. The idea gained traction and elicited debate in late 1960s (especially […]
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