Lemmy Today

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Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely. (www.businessinsider.com)
 
 
  • Interest in universal basic income has grown due to the pandemic, Elon Musk, Sam Altman, and economic pain.
  • A common question about the concept is how people spend the cash.
  • Experts and initial trials suggest UBI is mostly spent on essentials like food and housing.

Interest in a universal basic income (UBI) is only intensifying as the pandemic and other crises reveal the shortcomings of emergency aid programs, the likes of Elon Musk and Sam Altman warn AI will make human workers obsolete, and a one-two punch of historic inflation and steeper borrowing costs pinch household budgets.

UBI generally refers to a recurring cash payment to all adults in a certain population, regardless of their wealth and employment status, and with no restrictions on how they spend the money.

It's been hailed as a safety net in case people lose their jobs or can't work; a mental-health aid as it relieves financial worries; a buffer that lets people be more selective about which job they take; a tool to combat poverty, inequality, and the pain of unemployment; and a way to recognize the value of domestic labor like child and elderly care.

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Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely. (www.businessinsider.com)
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Some people are being given thousands of dollars with no strings attached in universal basic income trials. They mostly spend the cash wisely. (www.businessinsider.com)
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