Finland To Guarantee Income To 2,000 Citizens

According to this, Finland is about to conduct a fairly bizarre experiment. The country is going to give a guaranteed income to 2,000 citizens, whether they work or not. They’re calling the concept a “universal basic income.”

The program, which kicks off this month, is one of the first efforts to test a “universal basic income.” Participants will receive €560 ($587) a month — money that is guaranteed regardless of income, wealth or employment status.

 

The idea is that a universal income offers workers greater security, especially as technological advances reduce the need for human labor. It will also allow unemployed people to pick up odd jobs without losing their benefits.

So now a steady income is a basic human right? Alrighty then, Finland.

The program will run for about 2 years. The participants were picked at random but “had to be receiving unemployment benefits or an income subsidy.” If the program is successful, it could expand to all citizens.

The Finnish government thinks the initiative could save money in the long run. The country’s welfare system is complex and expensive to run, and simplifying it could reduce costly bureaucracy.

 

The change could also encourage more jobless people to look for work, because they won’t have to worry about losing unemployment benefits. Some unemployed workers currently avoid part time jobs because even a small income boost could result in their unemployment benefits being canceled.

Handing people a guaranteed income will encourage them to find work? Yeaaaah… not so sure about that one.

But here we go. Progressives are actually trying out a “universal basic income system.” Can’t wait to hear how it works out for them (but I already have a hunch).