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To Lift Quality of Life and Economy, Finland Champions Universal Basic Income

As a way to improve living standards and boosts its economy, the nation of Finland is moving closer towards offering all of its adult citizens a basic permanent income of approximately 800 euros per month.

“Basic income would increase everybody’s capacity to cope with financial shocks and uncertainties and would improve general quality of life, while supporting many different kinds of work, with or without pay.” —Anne B. Ryan, Enough Is Plenty

The monthly allotment would replace other existing social benefits, but is an idea long advocated for by progressive-minded social scientists and economists as a solution—counter-intuitive as it may first appear at first—that actually decreases government expenditures while boosting both productivity, quality of life, and unemployment.

“For me, a basic income means simplifying the social security system,” Finland’s Prime Minister Juha Sipilä said last week.

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