What do you believe is the single most important factor driving up the cost of living in Nigeria?

The current cost-of-living crisis, high interest rates and the ensuing economic contraction have disproportionately hit low-income households. And for many low-income workers, the future remains uncertain.

On top of that, the rise of artificial intelligence may result in significant job redundancies and displacements. And recent employment data for New Zealand has been grim, with a rise in the number of unemployed.

The uncertain future of work in general has led many to propose some form of universal basic income (UBI) as a solution. The underlying idea is simple: everyone receives a basic income with no strings attached. Think of something like New Zealand superannuation, but for everyone.

Both the Green Party of New Zealand and the Opportunities Party have put forward a UBI as a practical response to the financial insecurities experienced by low-income households. Some commentators have described the UBI as inevitable.

But would a UBI really work? And by how much could it change the lives of low-income households in particular? As it turns out, a new study from the United States, funded by OpenAI's founder Sam Altman, provides insights into what can potentially be expected if the UBI becomes a reality.

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