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Finland's Basic Income Experiment Shows Recipients Are Happier and More Secure (yahoo.com)
An anonymous reader quotes Bloomberg:
Unemployed people derive significant psychological benefits from receiving a fixed amount of financial support from the state, according to a landmark experiment into basic income in Finland that highlights the disadvantages of the country's existing means-tested system.
Initial results of the two-year study had already shown that its 2,000 participants were no more and no less likely to work than their counterparts receiving traditional unemployment benefit. Thursday's set of additional results from the social insurance institution Kela showed that those getting a basic income described their financial situation more positively than respondents in the control group. They also experienced less stress and fewer financial worries than the control group, Kela said in a statement... They had more trust in other people and social institutions, and showed more faith in their ability to have influence over their own lives, in their personal finances and in their prospects of finding employment
Finland is the first country in the world to test universal basic incomes at national level.
Initial results of the two-year study had already shown that its 2,000 participants were no more and no less likely to work than their counterparts receiving traditional unemployment benefit. Thursday's set of additional results from the social insurance institution Kela showed that those getting a basic income described their financial situation more positively than respondents in the control group. They also experienced less stress and fewer financial worries than the control group, Kela said in a statement... They had more trust in other people and social institutions, and showed more faith in their ability to have influence over their own lives, in their personal finances and in their prospects of finding employment
Finland is the first country in the world to test universal basic incomes at national level.
It's a fascinating study and i applaud Finland for this experiment. But i wonder if the psychology of these people will change as they get use to this basic income, and then, over time, they take it for granted and even forget it is there. In other words, will they return to a state of depression over time?