Finland launches two-year experiment in basic income for the unemployed

The centuries-old concept of universal basic income (in which states provide citizens with money regardless of how much they work) continues to spark interest around the world, with Finland the… [Read More]

Summary… * Machine-Made


The centuries-old concept of universal basic income (in which states provide citizens with money regardless of how much they work) continues to spark interest around the world, with Finland the latest country to experiment with a limited form of the policy.
According to a report from the Associated Press, the European nation is starting a two-year trial that will give 2,000 randomly selected unemployed citizens a guaranteed basic monthly income of €560 ($587) — even after they’ve found work.
Olli Kangas, of Finnish benefits agency KELA, told the AP that the scheme is intended to counter the “disincentive problem” among the unemployed.
“Or, as some critics claim, make them lazier with the knowledge of getting a basic income without doing anything?” The income will certainly not match that of Finland’s employed citizens, who earn roughly €3,500 per month in the private sector.
In the case of Finland’s recent foray, it’s possible to interpret the scheme as less about providing a universal basic income, than about streamlining existing benefits; cutting red tape and saving money by eliminating means-testing.

Opinion… * Man-Made


Finland launches two-year experiment in basic income for the unemployed. #Trend

Source: The Verge