Jean Lievens: Finland’s Hugely Exciting Experiment in Basic Income, Explained

03 Economy, 11 Society, Money
Jean Lievens
Jean Lievens

Finland’s hugely exciting experiment in basic income, explained

The headlines are shocking: “Finland plans to pay everyone in the country $876 a month”; “Finland plans to give every citizen a basic income of 800 euros a month”; “Finland plans to give every citizen 800 euros a month and scrap benefits.”

The reality is a little less wild. Finland is definitely not close to paying “everyone in the country” or “every citizen” — not yet, anyway. What it is doing is weighing a proposal for a basic income: an approach to welfare in which residents would get a flat amount of money every month, regardless of how rich they are.  Read more.