April 6, 2019

NOW COUPLE IT WITH INVESTMENT ACCOUNTS...:

Finland gave people free money. It increased their trust in social institutions.: New results are in for a landmark experiment in basic income. (Sigal Samuel  Apr 6, 2019, Vox)

After the government chose 2,000 unemployed citizens at random and gave them a check of 560 euros ($635) every month for two years ending last December, the recipients reported less stress than the control group. That was true even for recipients who felt they were still struggling to make ends meet, according to new findings released by Kela, a Finnish government agency.

The recipients also reported that they felt more trust toward other people and social institutions -- from political parties to the police to the courts -- than they did before getting a basic income.

The new findings add to initial results released in February that showed receiving free money made recipients happier without making them any less likely to join the workforce. Although this wasn't everything the Finnish government was hoping for -- its stated goal was to boost employment -- it still offered an important counter to critics of basic income, who often claim getting free money will induce people to work less. The evidence does not support that.

It may seem intuitive that getting a guaranteed, regular infusion of cash will make people happier and less stressed (even if that cash isn't enough to cover all their needs). But that's kind of the point: This is a pretty obvious way to increase citizens' well-being, yet most countries aren't doing it.

...giving them a stake in a proftable economy.
Posted by at April 6, 2019 8:19 AM

  

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