Finland Moves Towards Basic Income
While it’s an early test, Finland has begun taking steps to move towards the basic income model. As per usual, Finland is way ahead of curve in insuring their citizens and nation is ready for the future. The project, which is to be underway for 2017-2018, will seek to find out what happens when a basic income is introduced into a citizens life regardless of working status.
As many are aware, the impending changes to workforces at the hands of AI seem to indicate many job losses worldwide. When everything becomes automated what will be left for us to do? The concept of a basic income seeks to address this as well as many other questions.
“Full basic income would, at least at the highest levels, allow the inclusion of housing allowance (which is of the main sources of disincentives) into basic income. If basic income is primarily financed by a flat tax collected on income earned in addition to basic income, the tax rates will be high. Because a model based on full basic income would, at least at its highest levels, provide a secure livelihood without other income, questions on various behavioral effects become interesting. ”
It is interesting to note that the first item addressed on a full basic income is housing. What happens when citizens basic needs are met? Will they seek to aspire to greatness or just buy an xbox and do nothing? The world is watching.