• Is universal basic income working? We went to Finland to find out | CNBC Reports
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    Is universal basic income working? We went to Finland to find out | CNBC Reports

    I’m in Finland. It’s one year after the launch of a first-of-its kind experiment here in the country. We’re talking about universal basic income. Here’s how it works. Researchers randomly selected 2,000 unemployed people between the ages of 25 and 58 from around Finland. Each month those 2,000 people receive €560, which is about 670 bucks, tax-free. What they do with the money is entirely up to them. The purpose of the experiment is to address unemployment here in Finland. The government hopes that it will encourage unemployed people to take jobs instead of being afraid of losing their unemployment benefits. So one year into the experiment, is it working?…

  • What is universal basic income? | CNBC Explains
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    What is universal basic income? | CNBC Explains

    Do you guys want some free money? Excuse me, would you like some free money? Free money? No, thank you. No? Free money? Free money! It’s free! I’ll take some for my friend too. You can take some for your friend. Okay, thank you. Would you like some free money sir? Okay, wow, we’ve got a lot of takers here. Handing out free money sounds like a pretty radical idea. But it’s actually an economic concept gaining a lot of traction around the world. We’re talking about universal basic income. Universal basic income is pretty much what the name suggests, an income for everyone in the form of a cash…

  • What is Universal Basic Income?
    Articles,  Blog

    What is Universal Basic Income?

    Nothing undermines life more than insecuritybut for too many, the last few decades have become ever more insecure.Work is less certain and more stressful,especially for those on average incomes and lower —and we have a tax and benefits system that is complex and sometimes punitive.We could do something completely different,like give a basic monthly payment to every single citizen.This is called a Basic Income.It’s a centuries-old idea favoured by philosophers,social reformers, civic leaders and across the political spectrum.And it could help us meet our needs today.Basic Income would provide a platform to smooth the life transitionsmillions of us will face in coming years,including changes that may come from technology.It’s the…