The Economics and Political Science Room
Finland’s Basic Income Experiment Shows Recipients Are Happier and More Secure
I think it is worth looking at. But remember UBI replaces all other social welfare to include social security. Many liberals want to tack it onto existing welfare.
Read the entire article at the link.The results illustrate how bureaucratic and erratic the existing system can be.
For instance, regular recipients of unemployment benefit complain that it’s nearly impossible to know how taking on part-time work will impact their financial situation at the end of the month. Under the current system, declining job offers or training can result in financial penalties. But some have discovered that indulging in a hobby can even lead to benefits being denied altogether.
The results published on Thursday are based on phone interviews conducted during the final months of 2018. Further results of the experiment are due next year.
Finland is the first country in the world to trial a basic income at national level. The government wanted to find out whether a basic income could simplify the social security system, eliminate excessive bureaucracy and remove incentive traps. Researchers at Kela also wanted to measure its impact on the participants’ physical and psychological well-being.
The Results So Far
Basic income recipients were no more and no less likely to be employed than members of the control groupBasic income recipients were happier with their lives and experienced less stressThey had more trust in other people and social institutions, and showed more faith in their ability to have influence over their own lives, in their personal finances and in their prospects of finding employment
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Originally Posted by alexa
