business and finance application Finland is embarking on a social experiment by providing 2,000 citizens a guaranteed basic monthly income. Finland is embarking on a two-year social experiment to provide a tax-free €560 ($587) monthly payment to be spent with no imposed restrictions. The 2,000 participants, who were randomly selected on January 1 st , had to already be receiving unemployment benefits or an income subsidy in order to be considered. If successful, the program would potentially be expanded to include other eligible Finnish citizens such as low-income groups consisting of freelancers, small-scale entrepreneurs, and part-time workers.
The government’s rationale […]
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