Finland’s Universal Basic Income Experiment Failed To Put More People Back To Work

Finland’s Universal Basic Income Experiment Failed To Put More People Back To Work

Finland’s Social Insurance Institution just released results from a two-year experiment with Universal Basic Income. The plan was simple. Instead of only giving unemployment benefits to people who are out of work, Finland would randomly select 2,000 people who would receive a monthly payment whether or not they worked. This guaranteed income was supposed to encourage people receiving it to take more jobs or even start new businesses. But that’s not what happened. From the official press release : ‘On the basis of an analysis of register data on an annual level, we can say that during the first […]

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