Abstract
Universal basic income has emerged as a novel socio-economic concept in response to major social crises, periods of high unemployment, and the COVID-19 pandemic, stimulating considerable interest among academic and policy circles worldwide. Universal basic income offers a new socio-economic direction to mitigate economic inequality and address poverty, and this article provides a comprehensive analysis of its origins, development, and application. Through an exploration of the theoretical underpinnings, as well as an evaluation of the practical implementation of universal basic income, this article offers a more systematic understanding of this new institution and its impact on social protection systems. Drawing insights from prior experiences of universal basic income implementation, this article highlights important guidelines for the evolution of modern social protection systems.
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