guaranteed minimum income
Guaranteed minimum income (GMI) (also called minimum income) is a system of social welfare provision that guarantees that all citizens or families have an income sufficient to live on, provided they meet certain conditions. Eligibility is typically determined by citizenship, a means test, and either availability for the labour market or a willingness to perform community services. The primary goal of a guaranteed minimum income is to combat poverty. If citizenship is the only requirement, the system turns into a universal basic income.
- Part of Speech: noun
- Industry/Domain: Sociology
- Category: General sociology
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