Finland: The experiment on a universal basic income in Finland
The conversation between Rafael Contrasenso and Thomas More has been rehashed this week, following the publication of preliminary results on the Universal Basic Income (UBI) experiment in Finland. There may have been more hashtags, but no fewer mentions of the word ‘utopia’.
In this review, we look at how the results of the Finnish UBI experiment were viewed in the blogosphere and social media, and how they fit with longstanding questions over the impact of UBI in developed countries.
Context
Effects on well-being and long-term labour supply
Opponents of UBI, such as Nathan Keeble at Mises, argue that a substantial reduction in labour supply necessarily follows the introduction of UBI, through income effects. Hoynes and Rothstein (2019), in ‘Universal Basic Income in the US and Advance Countries’, point to the Blundell and Macurdy (1999) literature review as evidence of negative income elasticities of labour. Similar estimates are obtained when looking at lottery estimates, a possible for UBI (Cesarini et al. (2017)). Adam Perkin goes further and argues anti-work incentives breed employment-resistant personalities.
https://www.eleconomista.es/economia/noticias/9620687/01/19/Finlandia-acaba-con-la-renta-basica-universal-sin-revelar-los-resultados-del-experimento.html
In this review, we look at how the results of the Finnish UBI experiment were viewed in the blogosphere and social media, and how they fit with longstanding questions over the impact of UBI in developed countries.
Context
Effects on well-being and long-term labour supply
Opponents of UBI, such as Nathan Keeble at Mises, argue that a substantial reduction in labour supply necessarily follows the introduction of UBI, through income effects. Hoynes and Rothstein (2019), in ‘Universal Basic Income in the US and Advance Countries’, point to the Blundell and Macurdy (1999) literature review as evidence of negative income elasticities of labour. Similar estimates are obtained when looking at lottery estimates, a possible for UBI (Cesarini et al. (2017)). Adam Perkin goes further and argues anti-work incentives breed employment-resistant personalities.
https://www.eleconomista.es/economia/noticias/9620687/01/19/Finlandia-acaba-con-la-renta-basica-universal-sin-revelar-los-resultados-del-experimento.html
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