5 years ago
4
Did Finland's free money experiment work?
Finland has just completed a major basic income experiment where 2,000 unemployed people were given €560 (£490) a month for two years, instead of their unemployment benefit. The basic income was paid with no strings attached. Recipients weren't required to seek or accept jobs but still received the payment if they found a job. The Finnish government wanted to see if this financial incentive encouraged people to get jobs or start businesses.
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I do think it's a good idea.
I think it is a good idea, but that amount of money doesn't bring you far. I have had just one worry about UBI, namely, it gives government a lot of control over you. It should be in the law that government just cannot stop it on a whim, for instance, when you have a certain opinion or when you're not a native and they start to dislike those facts.
UBI has always seemed like an inevitability to me. At some point technology is going to replace so many jobs that we'll have more people than we need to do them all. Either we institute a UBI system slowly now or we do it chaotically in the future.
Its called slavery.