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April 6, 2019 07:34 pm

Finland's Basic Income Experiment Shows Recipients Are Happier and More Secure

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.

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