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New program will give 2,000 jobless Finnish citizens free money for the next two years

New program will give 2,000 jobless Finnish citizens free money for the next two years

Finland is about to embark on an extremely ambitious journey to test one of the most controversial economic theories of our time. The country’s social security institution known as Kela will be handing free money to thousands of jobless citizens on a monthly basis for the next two years. It’s a test of an economic strategy known as Basic Income, which at its core is essentially free money for every person once they reach a certain age, without any prerequisites.

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The idea […]

Finland to pay unemployed basic income of $587 per month

Finland to pay unemployed basic income of $587 per month

Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to €560 ($587)…to cut government red tape, reduce poverty and boost employment .

‘Splain to me how this works, Lucy.

This has already been done in the U.S., in Native American reservations. Tribes split the profits from casinos and natural gas sales, and other tribe businesses, to every tribe member on the reservation. Sometimes this money is enough to live off of.The result in one tribe I have some knowledge of is that the Native kids rarely even graduate from high school. […]

Finland to give people $587 a month in test of universal basic income

Finland to give people $587 a month in test of universal basic income

In a move that might make right-wing media and many US lawmakers apoplectic, Finland has launched a guaranteed universal income pilot program. The state will give out €560 ($587) a month to 2,000 residents, regardless of their job status or wealth, reports CNN. The money won’t be taxed, and the only caveat is that recipients had to have been receiving an income subsidy from the state.

Giving people money regardless of whether or not they’re working seems to defy common sense about personal responsibility and how to boost productivity. But supporters of UBI have argued that it just makes sense […]

Finland gives 2,000 citizens guaranteed basic income

HELSINKI —

Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment.

Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits, said Monday that the two-year trial with the 2,000 randomly picked citizens who receive unemployment benefits kicked off Jan. 1.Those chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The amount will be deducted from any […]

How AI startups can affect employment

How AI startups can affect employment

Automation of jobs due to technology advancements is a well-known issue. In his 2016 State of the Union Address, U.S. President Barack Obama warned that technology “doesn’t just replace jobs on the assembly line, but any job where work can be automated.”

Obama was not the first U.S. President to be concerned about automation, however. John F. Kennedy in 1962 said that the major domestic challenge of the decade was “to maintain full employment at a time when automation … is replacing men.”

Despite these concerns, automation did not lead to quick and total job losses — neither in the 1960s, […]

News Rounds: Islamic State terrorists claim credit for deadly attacks in Turkey and Iraq

News Rounds: Islamic State terrorists claim credit for deadly attacks in Turkey and Iraq

Turkish police on guard after bombing in Ankara in February 2016. Turkey has experienced a lot of terror attacks this year. Islamic State claims credit for attack on Istanbul night club. The terrorist and paramilitary organization on Monday claimed responsibility for the New Year’s attack at a popular Istanbul nightclub that killed 39 people and wounded scores of others. Turkish police have detained eight people in connection to the attack but were still hunting for the gunman who disappeared amid the chaos of the attack. The IS-linked Aamaq News Agency said the attack was carried out by a “heroic […]

Finland to Pay Unemployed Basic Income of $587 Per Month

Finland to Pay Unemployed Basic Income of $587 Per Month

HELSINKI — Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment.

Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits, said Monday that the two-year trial with the 2,000 randomly picked citizens who receive unemployment benefits kicked off Jan. 1.

Those chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The amount will be deducted from […]

Finland to pay unemployed basic income of $587 per month

HELSINKI (AP) — Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment.

Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits, said Monday that the two-year trial with the 2,000 randomly picked citizens who receive unemployment benefits kicked off Jan. 1.

Those chosen will receive 560 euros every month, with no reporting requirements on how they spend it. The amount will be deducted […]

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Marcus Aurelius : RagnarDanesk: The difference is of course that those people earned the money first

Most rich people came out of a rich vagina. They were born on third base and think the hit a triple.

And you fell for it. Yes, parents will take care of their children. The wealth was still earned by and for that family.Not that I object to a reasonable tax on that wealth, but it’s not going to fund half the population with a "basic income." Johnny Rockets 3 hours ago As robotics and AI become more and more advanced, I don’t see […]

Basic Income Arrives: Finland To Hand Out Guaranteed Income Of €560 To Lucky Citizens

Basic Income Arrives: Finland To Hand Out Guaranteed Income Of €560 To Lucky Citizens

Just over a year ago, we reported that in what was set to be a pilot experiment in " universal basic income" , Finland would become the first nation to hand out "helicopter money" in the form of cash directly to every citizen.

As of January 1, 2017, the experiment in "basic income" has officially begun, with Finland becoming the first country in Europe to pay its unemployed citizens the guaranteed monthly sum of 560 euros ($587), in a "unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment." According to Olli Kangas from […]