AWARD YEAR
2017
CATEGORY
Community
GOALS
Innovative Financial System
KEYWORDS
economy, Basic income, Money
COUNTRY
Finland
DESIGNED BY
The country of Finland
WEBSITE
http://valtioneuvosto.fi/en/government
FREE CASH IN FINLAND
The city of OULU tests out UNIVERSAL BASIC INCOME IN FINLAND
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. Under the two-year, nationwide pilot scheme in the country of 5.5 million, 2000 randomly picked unemployed Finns will receive a guaranteed sum of €560 ($806) per month. The trial in Finland kicked off on January 1, 2017 and marks a monumental moment for proponents of the idea who hope successful results will usher in an era of free money.
The government is eager to see what happens next. Will more people pursue jobs or start businesses?
The answers — to be determined over a two-year trial — could shape social welfare policy far beyond Nordic terrain. In communities around the world, officials are exploring basic income as a way to lessen the vulnerabilities of working people exposed to the vagaries of global trade and automation.