Universal Basic Income Concepts

The video discusses Universal Basic Income (UBI), a policy where all adult citizens receive a regular, unconditional sum of money from the government. It explores the history of UBI, dating back to the 1500s, and highlights early advocates like Thomas More. The video examines the potential benefits of UBI, such as poverty reduction, improved health, and job growth, as well as criticisms, including cost, work disincentives, and inflation. The conclusion considers UBI's future role in a society with increasing automation.

What is the primary goal of Universal Basic Income (UBI)?

• To eliminate poverty

• To increase government revenue

• To reduce inflation

• To promote international trade

Who was one of the first philosophers to argue for a form of UBI?

• John Locke

• Karl Marx

• Adam Smith

• Sir Thomas More

What was the nature of the experiment conducted in Dauphin, Manitoba in the 1970s?

• A social welfare program

• A job creation scheme

• A negative income tax experiment

• A universal basic income trial

Which organization has been sending direct cash payments to households in Kenya since 2016?

• World Bank

• GiveDirectly

• UNICEF

• Oxfam

How might UBI improve physical and mental health?

• By providing free healthcare

• By increasing access to luxury goods

• By reducing anxiety-related ailments

• By promoting physical exercise

What is one potential economic benefit of UBI?

• Reduced government debt

• Higher interest rates

• Increased job growth

• Decreased consumer spending

What is a major criticism of UBI related to its cost?

• It would require no government funding

• It would be too cheap to implement

• It would generate excessive profit

• It would be extremely expensive

How might UBI potentially lead to inflation?

• By decreasing aggregate demand

• By increasing aggregate demand

• By stabilizing prices

• By reducing consumer spending

What is a concern regarding UBI and work incentives?

• It might increase the desire to work

• It might remove the incentive to work

• It might lead to overemployment

• It might create more jobs

What is a potential societal benefit of UBI in the context of automation?

• Higher unemployment rates

• Reduced need for human capital

• Increased demand for manual labor

• Decreased technological advancement