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Finland Gives Up on Universal Basic Income

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Flag of Finlandby Tyler Durden, ZeroHedge

“I felt a great disturbance in the farce, as if millions of socialist voices suddenly cried out in terror, and were suddenly silenced. I fear something rational has happened.”

With high-profile champions such as Richard Branson, Facebook boss Mark Zuckerberg, and Tesla CEO Elon Musk, backing the idea of governments giving non-working people money (from working people) to do nothing – what could go wrong?

Well, two years after enthusiastically beginning its experiment with a universal basic income – in which people are paid an unconditional salary by the state instead of benefits – Finland is abandoning the project as government enthusiasm wanes and additional funding requests are rejected.

As a reminder, The Telegraph explains Universal basic income is a form of cash payment given to individuals, without means testing or work requirements. In some models this is at a rate sufficient to cover all living expenses.

More …

© 2018 ZeroHedge.com/ABC Media, LTD

Related story:  Nearly Half of Americans Support Universal Basic Income

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