Finland tried, and Finland failed. To combat high unemployment and wage stagnation, Finland’s government decided to try a universal basic income (UBI) experiment with a portion of their population. Establishing a UBI has been viewed as a favorable by liberals and Silicon Valley elites who view a UBI as a necessary method of injecting capital into the economy.
Unfortunately, as Finland just learned, giving citizens money without restriction does not fuel growth, it wastes money. Now, Finland is backtracking on their UBI program to instill real reforms to end individual dependency on the government.
The unemployment rate in Finland has exceeded […]
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