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

One year ago, Finland started giving out free money in a first-of-its kind experiment. Here’s how it’s going. CNBC’s Elizabeth Schulze reports from Finland.

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[theminuteman]

It's not a universal basic income if it's only tested on unemployed people... To run a fully accurate pilot program, it has to feature a randomized pool. That's not a randomized pool unless everyone in Finland is unemployed.

[Allen.Fepuleai]

This is not universal basic income. UBI is when every citizens gets money regardless of their income bracket

[asteroides]

The “universal” in the universal basic income means it’s supposed to be for everyone though

[mortanosmith]

Somebody used this for a free trip to europe

[petuniaromania]

As for me, I've been unemployed since August 2018 and whenever I had a temporary assignment from a temporary agency from October to December, once the job ended the government denied me continued unemployment - it has created a horrible crisis in my life and I'm still not employed. I take one class a semester at our local college and am hoping to achieve an Associates Degree, in the meantime, and as I continue to look for full-time work that will pay all my bills, if I remain unemployed and were to receive financial assistance in the form of a universal income, I would want to continue taking my class each semester, work a job, and volunteer - I especially would like to deliver meals to the elderly through Meals-On-Wheels, and work other volunteer opportunities that would allow me to go into homes of low income or indigent elderly and cook, clean, and provide basic help and friendship to them. I picture myself one day being able to take them for outings to places they miss and want to visit - I want to see them smile and have a better quality of life and that whenever they close their eyes to sleep at night, it's with a smile on their face and lovely memories in their mind.

[Bhaalspawn]

560€ might be enough to pay the rent (outside Helsinki) in Finland but that's it. Other bills and food depend on other benefits if you don't have a job.

[brunoviegas]

I give credit to the Nordic countries, they win at the quality of life indexes, wealth distribution, public health care, etc. They are really civisiled, so I believe they know what they're doing

[AnimefeverXD]

Came here to support Andrew Yang who wants to make this a reality!

[gergc]

Not enough to live on but enough to go on vacation.

What?

[jasonbossardt]

Automation is on the rise. And it is rising a LOT faster than most people think! I was a Mechanical Engineer/Designer for an automation company for over 15 years, and we were designing machines that would replace 10-15 human workers. I quit that job in 1999. Technology is FAR more advanced now, than it was in 99', and increasing at a rapid rate! MILLIONS of people are going to be out of work within the next 10-15 years. The rise of technology is not linear. It is rising faster and faster every day. As automation rises, production and revenue increases, while the need for human employees goes down. I know a lot of people are going to say, "well, just get a different job". But where? and How? A single mother working in a factory making $20+/hour with benefits, gets laid off because the company replaces her with a machine that does her job better and faster, now has to find a new line of work. Sure, she could go for a teaching job, or an at home child care job (babysitter) or go to Applebee's for a waitress position, All of which, are very low paying jobs, and what is she supposed to do in the meantime, to keep her rent paid, and her children fed? Wouldn't it be nice if she had some kind of foundation to fall back on while finding a new job so she wouldn't have to deal with the stress of her children going hungry? Or imagine a 45 year old Trucker, who has no other skills than the CDL license that he has had for 15-20 years. They start using automated trucking, and he gets laid off. Now what? Now he has to compete in a completely new job market with kids half his age, fresh out of college... He's at a major disadvantage! But if he had a basic income that would at least keep his rent paid, and his lights on, he would have more time, and less stress finding a new trade that he DOES qualify for. This is NOT "free money". The money is there, You, Me and every other working American has already paid for it, but it is just being used on far lower priorities at this time. We spend billions of dollars on Foreign Aid to help starving people in other countries... forgive my language, but What the fuck for!?!? We have starving people right here in this country that NEED that money! It's a common misconception that most wealthy people make, when they say that poor choices lead to poverty. It's quite the opposite really. Poverty leads to bad choices. When someone is in a situation that they cannot get out of, they do whatever they can to survive, and that often leads to bad choices. People that have nothing will often resort to theft, or selling drugs, or whatever they can to get themselves out of the bind that they are in. If you lower the poverty rate, you lower the crime rate. That is a FACT.

[elli]

Breaking News: Finland just cut back on their basic income experiment. Program being described on some as being on life-support.

[remyd]

Can't compare this to Yang s plan. This is more akin to finding people who have won the $500 a month lottery ticket

[leepialong]

Why go to Finland when Alaska already is doing it?

[KendrickMan]

I could sure go for this. I had to give up my vehicle to get welfare because it wasn't enough to cover rent and insurance, now I can't get another job. UBI wouldn't penalize me for having a few bad months.

[vinhqngouoc]

Why go all the way to Finland? Stockton CA been doing it and it works wonders

[richardclark]

UBI is the best way forward.
1) Helps improves automation. This is because right now many unions block improvements as it will cost jobs. This means you pay more money to get worse services. This is very common with UK trains where we pay people to close doors. Some trains don’t have these “door closer” workers and it works absolutely fine. The unions continually strike to protect these people who close automated doors on trains.
2) Automation is coming and technology will always win out in the end.
3) stagflation is a real issue. Jobs are simpler and pay is less.
4) the system will fall apart if the Lower to working class population aren’t a part of the wealth creation.

[petuniaromania]

I really liked that the gentleman you interviewed decided to return to school and get further education so that he could get a better paying job. He's a true success story and if the program could follow everyone who's getting this universal basic income, this would provide crucial data that would help to see how the program is working to take care of the people it's been given to and how it has benefited the local economy and society in general within the areas that they live. Other nations who may need to put a form of this program in place, especially here in the United States as we deal with mass unemployment and COVID-19, would also benefit from this data in order to help structure the program to the best outcome for everyone.

[elias]

Literally the most un-informing thing I've ever seen.

[mikaveekoo]

If a common man in USA wants to live as well as common man in Finland he has to pay much more than the finn does taxes included. The finnish system is more efficient. And there is more freedom here (in Finland). E.g. parents don't have to think how much they invest in children's education...it's paid already!!. They can concentrate on more essential issues. Helps you to be more creative.

[lookingforwookiecopilot]

Hmm, $670 bucks a month? That's actually more that what the last flying job I interviewed for paid! 😕