The concept of universal basic income as a basis for social equalization policy and quality of life improvement

The article examines the features and potential of the concept of universal basic income as a basis for social equalization policy and quality of life improvement. Various scholars’ approaches to this concept are explored during the investigation. Additionally, the social security issues that universal basic income could address are outlined. The conditions and requirements necessary for the implementation of this concept in real life are identified. The role of universal basic income in enhancing citizens’ security in the labor market and addressing issues with job automation is separately delineated. Projected budgetary expenditure assessments are provided in the event of implementing the basic income concept, using several developed countries as examples. Furthermore, the article presents the experiences of countries that have implemented pilot projects of universal basic income. Overall, the comprehensive analysis presented in this article underscores the significance of universal basic income as a transformative policy instrument with the potential to shape socio-economic landscapes globally.