Monday, April 23, 2018

Finland pulls the plug on guaranteed basic income experiment

April 22, 2018 By Thomas Lifson

In oh-so progressive Scandinavia, Finland tried and quickly discovered that the latest hot idea among the techno-lords of Silicon Valley (and their lackeys in the California Democratic Party) is a dud. The failed idea for the way the rest of us should live is so-called Universal Basic Income.

Universal Basic Income is a policy that’s been lauded by tech leaders from Mark Zuckerberg to Elon Musk as a proposed solution to job loss due to automation. Last Sunday, it officially became part of California’s Democratic Party platform, signaling that the idea is beginning to enter the political mainstream at the same time Silicon Valley leaders are putting their weight behind it.......Business Insider Nordic reports that this is such a bad idea that when Finland actually tried it, the failure was obvious so quickly that the experiment was terminated..... Read more

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