What is UBI?
Universal basic income is a concept addressing and redefining topics as work, employment, wage based society, welfare economics, free “business” initiative, aggregate economic demand with relationship towards, welfare state, social justice and protection, personal freedom and equality, only to mention some of them.
A basic income is an income unconditionally granted to all on an individual basis, without means test or work requirement. It is a form of minimum income guarantee that differs from those that now exist in various European countries in three important ways: 1.) it is being paid to individuals rather than households; 2.) it is paid irrespective of any income from other sources; 3.) it is paid without requiring the performance of any work or the willingness to accept a job if offered.