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Free Cash in Finland. Must Be Jobless.
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Free Cash in Finland. Must Be Jobless.

Finland will soon hand out cash to 2,000 jobless people, free of bureaucracy or limits on side earnings. The idea, universal basic income, is gaining traction worldwide.

Peter S. Goodman
The New York Times, 2016
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Editorial Rating

8

Qualities

  • Controversial
  • Eye Opening
  • Overview

Recommendation

For decades, the idea of universal basic income has been relegated to the policy fringes, dismissed as a pie-in-the-sky ideal far removed from the hard-nosed realities of a capitalist, workaday world – but no more. With politicians increasingly feeling the populist heat from voters angry about economic dislocation, governments are quietly coming around to a radical rethink of social welfare policy. International Business Times chief editor Peter S. Goodman offers up a digestible, jargon-free overview of the debate. getAbstract recommends his insights to anyone looking for an easy entry point to an increasingly relevant policy discussion.

Take-Aways

  • With universal basic income programs, governments provide regular paychecks to all citizens regardless of whether they work or how much they earn.
  • The once fringe idea is gaining traction among policy makers and politicians keen to address the economic disruptions globalization and automation have caused.
  • Governments are starting to acknowledge that traditional unemployment schemes may be inadequate to address growing employment gaps in a new economic age.

About the Author

Peter S. Goodman is the editor in chief of the International Business Times.

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