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RE: The Failure Of The UNIVERSAL BASIC INCOME Experiment In Finland!

in #money7 years ago (edited)

I don't know the details of this experiment but it was criticized even before it started.

But you're barking up the wrong tree if you think UBI is to blame for giving people free money. There already exists guaranteed minimum income in Finland not much different from this implementation of UBI but how that money gets paid is much more bureaucratic.

Sure you can criticize income transfers on principle. Just be aware that AI, automation and outsourcing will utterly destroy the labor market in the coming decades. Jobless recovery has already been seen. But what lies ahead is nothing like we've seen before. What are you going to do when structural unemployment reaches 30%, 50% or 80%?