Universal basic income: What UBI is, how it works, how it would affect the economy, and what supporters and critics say

Universal basic income has made giant strides from its origins as a utopian vision.

While UBI has gained traction as an idea in recent years, its universal nature is still a difficult political sell. However, to test out the idea on a more limited basis, many cities and states have piloted guaranteed basic income programs, which offer recurring cash payments to all individuals in a population regardless of their socioeconomic status. There are no restrictions on how the money is spent, and no repayment is expected.

Meanwhile, guaranteed basic income programs offer recurring cash payments, but participants only receive the money […]

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