Universal Basic Income (UBI) is a proposed social welfare system where all citizens of a given population regularly receive a set minimum income, regardless of their income, employment status, or other factors. The goal of UBI is to provide a financial safety net, reduce poverty, and increase equality. A full UBI is sufficient to meet a person's basic needs, while a partial UBI is less than that amount. As of 2025, no country has implemented a full UBI system, but some countries like Mongolia and Iran have had partial UBI systems in the past.
UBI is unconditional, meaning that recipients get the money without a means test or work requirement. Proponents say UBI could reduce poverty and economic inequality, improve physical and mental health, and empower workers. It could also encourage entrepreneurship and innovation by providing a financial base for new businesses. UBI may also act as a safety net during crises and reduce the administrative costs associated with traditional welfare programs. Critics, however, worry about the high costs and the potential for decreased motivation to work. Some argue that UBI might not effectively address inequality and could lead to inflation or exploitation by businesses.
