Universal basic income seems to improve employment and well-being. By Donna Lu Michael Brooks / Alamy The world’s most robust study of universal basic income has concluded that it boosts recipients’ mental and financial well-being, as well as modestly improving employment.
Finland ran a two-year universal basic income study in 2017 and 2018, during which the government gave 2000 unemployed people aged between 25 and 58 monthly payments with no strings attached. The payments of €560 per month weren’t means tested and were unconditional, so they weren’t reduced if an individual got a job or later had a pay rise. The study was nationwide and selected recipients weren’t able to opt out, because the test was written into legislation.
Advertisement Minna Ylikännö at the Social Insurance Institution of Finland announced the findings in Helsinki today via livestream. The study compared the employment and well-being of basic income recipients against a control group of 173,000 people who were on unemployment benefits. More on these topics: health. Go on, I dare ya.. Coronavirus and the Case for Universal Basic Income. Coronavirus and the Case for Universal Basic Income. Bregman - In case you missed it: I was on BBC... One of the better interviews with Rutger Bregman after Tucker Carlson unaired interview incident. The changing nature of work. Over the last century, machines have replaced workers in many tasks.
On balance, however, technology has created more jobs than it has displaced (Frey and Rahbari 2016). Technological progress has transformed living standards. Life expectancy has gone up; basic health care and education are widespread, andmost people have seen their incomes rise. And yet, fears of robot-induced unemployment often dominate discussions over the future of work.
The World Bank’s recently launched World Development Report for 2019 on The Changing Nature of Work (World Bank 2019) addresses these issues, analysing what exactly is changing and what needs to be done. Figure 1 In the future, the forces of automation and innovation will shape employment Technological progress enables firms to automate, replacing labour with machines in production, and to innovate, expanding the number of sectors, tasks, and products. Figure 2 Recent technological advances accelerate the growth of firms. Economic Growth Is No Longer Enough by Manuel Muñiz. Time to rethink the future of work. Learn more. Finland's basic income experiment is already making people feel better after just 4 months. *****15-hour weeks, universal basic income (UBI) and doughnuts. Are these the big ideas that could end inequality? At an unusually divisive time for politics in the West, there’s one thing most people can agree on: the economy is not working well enough, for enough people.
Right now, just 1% of the world’s population holds over 35% of all private wealth, more than the bottom 95% combined. According to Oxfam, the eight wealthiest individuals in the world – all men – have the same wealth as 3.6 billion of the world’s poorest. The world could see its first trillionaire in the next 25 years, yet one in nine people go to bed hungry every night and one in 10 of us still earns less than $2 a day.
And while the problem is truly global, it also exists within countries – including some of the world’s most advanced economies. *****Canada's basic income experiment - will it work? The Canadian province of Ontario is to start giving some 2,500 people a basic income – money with no strings attached.
The project, which is expected to start later this year, is being designed to test whether a basic income should be given to all Ontarians living in poverty. ‘The government basically believes that if people have the security of knowing their basic necessities are taken care of, they will contribute to society,’ Dr Helena Jaczek, the minister running the scheme, told Apolitical. ‘And this is the point of the pilot, to see: what is the behaviour change? Does that security give you the capacity and willingness to improve education, get retrained, have fewer trips to the emergency room because you’re not subject to that ongoing stress?’ “Welfare programmes keep people trapped in poverty It also implies an altered view of humanity itself. *****Is Finland’s basic universal income a solution to automation, fewer jobs and lower wages? When he got the letter after Christmas saying he was entitled to an unconditional income of €560 (£478) a month, Mika Ruusunen couldn’t believe his luck.
“At first I thought it was a joke. I had to read it many times. I looked for any evidence it might be false.” But the father of two was not the victim of a scam. He has been selected to take part in an experiment being run by the Finnish government, in which 2,000 unemployed people between the ages of 25 and 58 will receive a guaranteed sum – a “basic income” – of €560 a month for two years. Ruusunen lives in Kangasala, a half-hour bus ride from where we meet in Tampere, the country’s second city, known as the “Manchester of Finland”.