Universal Basic Income
$1 MILLION (Prize amount to be confirmed. Announcement expected for next year)
Universal basic income (UBI), is a theoretical governmental public program for a periodic payment delivered to all citizens of a given population without a means test or work requirement.
A basic income, or universal basic income, can be implemented nationally, regionally, or locally. If the level is sufficient to meet a person’s basic needs (i.e., at or above the poverty line) it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income.
Several critics have been related to ubi, such as it not encourage productivity and in some countries promote the so called black economy.
While the main goal of ubi is eliminate poverty, it must also be considered as an instrument to improve the economy by allowing everybody to be part of the consumer society, the concept must be modified to include provisions for economic expansion and jobs creation encouraging people to enter the jobs market.