The Real Life Basic Income Experiment

I’m very impressed with Finland. Not just for the country for what it is, but the government for daring to try out concepts which may potentially help its citizens.

This latest one talks about how they did a social experiment to give 2000 unemployed people a basic income of $650 per month, without strings attached, for 2 years, as covered by BBC.

I also covered this concept in an earlier blog post back in 2017 about the concept of basic income, and how it was successfully demonstrated in a small Canadian town.

This set the Finnish government back by $31.2M dollars, but based on what was reported so far by the 2 individuals tracked by BBC, the results weren’t encouraging.

The first found a job as a telemarketer but was panicking when the 2 year trial was coming to an end, as what she made didn’t fully cover her expenses.

The second was previously a newspaper journalist. Despite sending over 80 applications for jobs, he only received the offer of an interview for only 1, and was still unemployed at the end of the trial.

I think perhaps these people need a bit more help, not just from a financial perspective, but also some career counseling to know what to do in their life. Perhaps in today’s world, it is more important than ever to re-skill and stay relevant in this knowledge economy.

For the case of the journalist, I was thinking perhaps he could have started a blog and monetized it. 2 years of content should get him some traffic and perhaps a decent income.

Not that I’m making anything from this blog so far, but that could be because I only write short content a small portion of my time.

What about you? Do share your views on basic income, and perhaps if you would have benefited lots from it.

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