An experiment to inform universal basic income

As income inequality and economic upheaval take center stage, is a guaranteed minimum income worth considering? Results from a two-year experiment in Finland offer clues.

Readers who are familiar with the inequality debate or the fears that robots will take all of our jobs will almost certainly have heard about the idea of a universal basic income. As typically conceived, basic-income programs are meant to provide a financial safety net, with no obligations and without the bureaucracy and associated administrative costs of means-tested benefits. Trends in globalization and automation, as well as the rapid rise in the cost of necessities, such as housing, had already started to put pressure on social contracts in many countries before the pandemic. Now, with COVID-19 creating additional economic risks—especially for already-vulnerable groups—questions about how best to support people living on low incomes are bound to become even more important.

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Πηγή: mckinsey

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