A plan that granted Finnish citizens a no questions asked universal basic income (UBI) is over. Finland has decided to end a first of its kind welfare experiment after only two years after the government turned down a request for extra funding from the Finnish social security agency.
Participants of approximately 2,000 unemployed individuals from ages 25 to 58 were given €560 ($685) monthly without any sort of requirements. If they found a job, they were still granted a monthly stipend for the same amount.
According to Time, Finland's unemployment rate reached a record high of 10 percent in 2017 sparking a new debate on welfare reform.
One expert claimed two years was simply not enough to determine whether not a UBI had the potential for "success." Success being citizens with less anxiety in an insecure labor market and complex social security system.
As their program ends, Sen. Bernie Sanders (I-Vt.) introduced a bill that would guarantee a job, a salary, and health care to every American.
To see more from Pat, visit his channel on TheBlaze and listen live to “Pat Gray Unleashed” with Pat Gray weekdays 12 p.m. – 3 p.m. ET, only on TheBlaze Radio Network. Want more of Pat? Check him out on Facebook, Twitter, and YouTube.