What is universal basic asset?

Universal Basic Assets (UBA) is a concept that proposes giving every citizen a bundle of assets that would be owned by each person individually, thus providing a form of universal economic security. These assets could include things like a basic income, healthcare, education, housing, and other basic needs. The idea is for the government to provide these assets to everyone, regardless of their income or employment status, to ensure that every citizen has access to a basic standard of living.

UBA is often seen as an alternative to universal basic income (UBI), which has gained a lot of attention in recent years. While UBI provides every citizen with a regular monetary stipend, UBA expands this concept to include a broader range of assets that would provide a more comprehensive safety net.

UBA supporters argue that providing a bundle of assets to every citizen would help alleviate poverty, reduce inequality, and promote greater economic freedom for all. Critics, however, argue that such a program would be too expensive and could harm economic growth by discouraging work and productivity.

Currently, no country has implemented a universal basic asset program, although some municipal-level initiatives have been launched in certain parts of the world.