Finland ends basic income experiment

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Jacob Richter
Finland ends basic income experiment

The article above not only covers the announced end of Finland's basic income experiment, it also calls out the World Bank for advocating the parallel elimination of the minimum wage and institution of either basic income or social insurance in developing countries.  It then compares this hideousness with Bernie Sanders' recent job guarantee announcement.


It wasn't a universal basic income program.

But contrary to universal basic income, which advocates say should apply to all citizens regardless of background, Finland's trial is targeting people in long-term unemployment.

The Finnish government argued that existing unemployment benefits were so high and the system so rigid that a person who was unemployed might choose not to take a job because they would risk losing money — the higher your earnings, the lower your social benefits. The basic-income trial was designed as an incentive for people to start working.