Basic income | Wikipedia audio article
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Date: 2018-11-28

This is an audio version of the Wikipedia Article:
Basic income

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SUMMARY
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A basic income, also called basic income guarantee, universal basic income (UBI), basic living stipend (BLS), or universal demogrant, is a type of program in which citizens (or permanent residents) of a country, or any other region, may receive a regular sum of money from a source such as the government. A pure or unconditional basic income has no means test, but unlike Social Security in the United States it is distributed automatically to all citizens without a requirement to notify changes in the citizen's financial status. Basic income can be implemented nationally, regionally or locally. The World Bank's World Development Report 2019 on the future of work describes the existing schemes around the world.
An unconditional income that is sufficient to meet a person's basic needs (at or above the poverty line), is called full basic income, while if it is less than that amount, it is called partial.  
Some welfare systems are related to basic income but have certain conditions. As these are not universal, they are more often referred to as guaranteed minimum income systems. For example, Bolsa Família in Brazil is restricted to poor families and the children are obligated to attend school.A related welfare system is negative income tax, in which the government stipend is gradually reduced with higher labor income.