Universal basic income (UBI) / Ingreso básico universal (IBU)

By Cathy J | El nuevo internet | 1 Sep 2021

⏬ El último video es en Español ⏬


UBI definition

The UBI is a government program in which every adult citizen receives a set amount of money regularly, regardless his employment status. The idea has gained momentum globally (i) as automation (e.g., robotics, artificial intelligence) started to replace workers in several sectors of the economy, and more recently (ii) with the start of the coronavirus pandemic. According to the Basic Income Earth Network (BIEN), the UBI holds the following 5 features:

  • Periodic
    • It is paid at regular intervals (for example every month), not as a one-off grant
  • Cash payment
    • It is paid in an appropriate medium of exchange, allowing those who receive it to decide what they spend it on. It is not, therefore, paid either in kind (such as food or services) or in vouchers dedicated to a specific use

I don´t mind if it happens to be paid with cryptocurrencies 🥳

  • Individual
    • It is paid on an individual basis (and not, for instance, to households)
  • Universal
    • It is paid to all, without means test
      • A means test is a determination of whether an individual or family is eligible for government assistance or welfare
  • Unconditional
    • It is paid without a requirement to work or to demonstrate willingness-to-work




The following videos are also available on [2].


Milton Friedman on Guaranteed Income

Milton Friedman was an American economist (known by his right-wing ideologies) and statistician who received the 1976 Nobel Prize in Economic Sciences.



"Universal Basic Income is a brilliant idea"

Yanis Varoufakis is a Greek-Australian economist and a left-wing politician (MeRA25). A former academic who studied mathematics and mathematical statistics in the UK, and got his PhD in economics at the University of Essex.


El Ingreso Básico Universal


The UBI is crucial to any sustainable world IMO. Without it, human right 25 won´t ever be guaranteed

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Cathy J
Cathy J

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