UBI stands for universal basic income. “A basic income is a periodic cash payment unconditionally delivered to all on an individual basis, without means-test or work requirement.” Social policy and economic policy can no longer be conceived separately, and basic income is increasingly viewed as the only viable way of “reconciling two of their respective central objectives: poverty relief and full employment.”There are different models and UBI has been called different names, from unconditional basic income, citizen’s income, basic income guarantee, universal basic income or universal demo grant. Finland is pilot-testing basic income for 8,000 people from low-income groups. Under universal basic income, people receive a standard amount of money just for being alive. Even Davos 2017 is buzzing with universal basic income.

Source: Manila Times January 23, 2017 16:29 UTC