Finland Launches Its Universal Basic Income Experiment
news·@sauravrungta·
0.000 HBDFinland Launches Its Universal Basic Income Experiment
<html> <p>In my last post I talked about how automation technologies will lead to mass unemployment and that we would need to change our socio-economic structure in the wake of robots taking away our jobs. </p> <p>Many solutions have been suggested but till now, Universal Basic Income seems like the most viable option. As I explained in my previous post, a UBI is a system in which the state regularly pays you an unconditional some of money, meaning you get paid for being a citizen basically. </p> <p>It sounds too good to be true and if enough money can be paid to all citizens, I’m sure people would actually welcome the automation that is on the rise every year. </p> <p><img src="https://i.imgsafe.org/1454c54519.jpg" width="1920" height="1080"/></p> <p><a href="https://www.yahoo.com/news/finland-universal-basic-income-experiment-183009075.html">Image Credits</a></p> <p>Well, at least for now, some people of Finland will be having happier times ahead as the country kickstarts its universal basic income experiment. They might have just started the system of the future beginning this new year.</p> <p> So, Finland has started this experiment by choosing 2000 citizens at random who will receive €560 ($587) a month, which will be totally tax free. For this experiment, Finland has decided to choose only those who have already applied for unemployment benefits.</p> <p>If those selected, get jobs while they are under this programme, their basic income will not be taken away therefore they will have more than 1 sources of income. </p> <p>This programme is being launched for 2 years and if the authorities find it to be successful, it will be extended to all adult people in Finland. </p> <h1>Future</h1> <p> Other countries have shown interest in trying out this model too. The city of Utrecht in Netherlands and Canada and Uganda are also set for similar experiment this year. Also, India has shown interest to launch its own programme as well in the future. </p> <p> UBI is a hotly debated topic and its viability is still up in the air, therefore experiments like these are necessary to reach to a conclusion. One of the major concerns is that a UBI model still doesn’t eliminate the need for a job as the income under this model is going to be lower than what people make doing a job.</p> <p> And if the need for a job is not eliminated, it will cause pressure on the remaining jobs that automation hasn’t already taken over. At the moment, all we can do is experiment.</p> </html>
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