Is universal basic income working? We went to Finland to find out | CNBC Reports
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- čas přidán 31. 12. 2017
- One year ago, Finland started giving out free money in a first-of-its kind experiment. Here’s how it’s going. CNBC’s Elizabeth Schulze reports from Finland.
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Wow ... that was a deep dive! Extra-chromosomal bimbo journalism at it's best.
The Problem of Funding UBI is solved by Land Value Taxation as single tax. I have made Videos about both LVT and UBI if any of you people are interested😀.
Automation that destroys its Consumer Base will Not Work
Unemployed People cannot buy Products from Automation so Automation becomes unsustainable
You just want Free Money. But this will lead to people becoming Cattle - kept for elites to consume
The Geno, cide & Mass Ra, pe will be rationalized by Le, ft as necessary for "reducing population"
UBI is Basic Leftism Scam 101
Its not a surprise why the concept of Left where Politicians & Elites get God Like Powers to Regulate People end up in genocide & mass rape. UBI just makes people into cattle - the dangers of which are so great - I can write books on it.
It's not a universal basic income if it's only tested on unemployed people... To run a fully accurate pilot program, it has to feature a randomized pool. That's not a randomized pool unless everyone in Finland is unemployed.
Gripping analysis
Depends on the purpose, sounded at the beginning that they wanted unemployed ppl to get used to the higher income they could get if they got employment. Higher than what they get being unemployed , perhaps unwilling to switch careeers etc from what they were originally doing.
Plus it could make you feel better, more part of the society, be able to socialize in activities that cost money etc which could make you more attractive to hire as well.
There will be a larger follow-on study if the results of this one shows favourable results - that’s how studies have to work.
It's not fair that everyone doesn't receive the money. Everyone, from the millionaire to the person making minimum wage to the homeless person should get the exact same.
There would be too much of a chance that NO unemployed person was selected if it was done at random.
The whole purpose of the experiment was to see whether UBI made unemployed people lazy.
My only concern with it is that people with severe addictions (often the reason they're unemployable) - such as drugs, gambling and booze, would waste the money in minutes. But that's the same as today when they receive welfare.
People in that position should have their UBI taken away - and they should be forced to go on a treatment program instead. Then, once they're cured, they get their UBI back.
This is not universal basic income. UBI is when every citizens gets money regardless of their income bracket
The “universal” in the universal basic income means it’s supposed to be for everyone though
@Luis D. Yeah, no if I work on Uber and I get pennies on my phone (that can get hacked and lead to zeroes), while having to pay rent, I definitely need UBI, people like you are why the "precariat" is getting out of touch with most current day politics and is protesting on streets with Yellow Vests.
UBI was stated by guy Standing to be a solution to help the "precariat" as well, but you wellfare lefties are already corrupting the concept into another: "Help the poor, screw the middle class" argument, if the middle class doesnt get a share of the pie, it´s not UBI and doesnt solve the job problems right now
@Luis D. But a lot of people in Finland choose to be jobless to get the welfare money. If you dont have a job in finland you can get more money from Kela than legit constructionwork.
@Luis D. i am entitled to MY TAX money that i pay for you and i every damn check i get!
@Luis D. then its not universal
If 2000 people are already a big expense...what you think is gonna happen with 200 millions?
Somebody used this for a free trip to europe
As for me, I've been unemployed since August 2018 and whenever I had a temporary assignment from a temporary agency from October to December, once the job ended the government denied me continued unemployment - it has created a horrible crisis in my life and I'm still not employed. I take one class a semester at our local college and am hoping to achieve an Associates Degree, in the meantime, and as I continue to look for full-time work that will pay all my bills, if I remain unemployed and were to receive financial assistance in the form of a universal income, I would want to continue taking my class each semester, work a job, and volunteer - I especially would like to deliver meals to the elderly through Meals-On-Wheels, and work other volunteer opportunities that would allow me to go into homes of low income or indigent elderly and cook, clean, and provide basic help and friendship to them. I picture myself one day being able to take them for outings to places they miss and want to visit - I want to see them smile and have a better quality of life and that whenever they close their eyes to sleep at night, it's with a smile on their face and lovely memories in their mind.
U really are rare , unlike others who are selfish and don't care about others. Keep it up ,u doing a good job👍👍. Don't ever lose that goodness in u.👍
You doing ok?
Wow. Very thin on information
Wow ... that was a deep dive! Extra-chromosomal bimbo journalism at it's best.
People get very thin on socialism too
what do you expect from corporate news?
DowskiVision MagicalOracle Where are you gonna be in five years? Lol
I give credit to the Nordic countries, they win at the quality of life indexes, wealth distribution, public health care, etc. They are really civisiled, so I believe they know what they're doing
560€ might be enough to pay the rent (outside Helsinki) in Finland but that's it. Other bills and food depend on other benefits if you don't have a job.
But it makes it easier since you don't lose it with a mini job.
Here in Hungary an unemployed man get approx. 75 euro monthly. This is really not enough for anything.
The fact that the rich have to pay for the poor is a selfish idea, no matter how you see it.
JascRambles Yes the point is to encourage an unemployed person to take any kind of job, start their own business etc, the experiment money keeps coming for two years anyway. The current system is complicated and bureaucratic, taking a mini job could just leave you with less money in the end of the month.
Norbert Kasko In Finland the unemployment benefit system is rather complex, this experiment is only one version. Most workforce pay a voluntary insurance ( 100e/year for me). In case of unemployment this guarantees around 60% of your salary (minus taxes) for 300-500 days, depending on your work history. You have to show activity or the money can get cut.
Automation is on the rise. And it is rising a LOT faster than most people think! I was a Mechanical Engineer/Designer for an automation company for over 15 years, and we were designing machines that would replace 10-15 human workers. I quit that job in 1999. Technology is FAR more advanced now, than it was in 99', and increasing at a rapid rate! MILLIONS of people are going to be out of work within the next 10-15 years. The rise of technology is not linear. It is rising faster and faster every day. As automation rises, production and revenue increases, while the need for human employees goes down. I know a lot of people are going to say, "well, just get a different job". But where? and How? A single mother working in a factory making $20+/hour with benefits, gets laid off because the company replaces her with a machine that does her job better and faster, now has to find a new line of work. Sure, she could go for a teaching job, or an at home child care job (babysitter) or go to Applebee's for a waitress position, All of which, are very low paying jobs, and what is she supposed to do in the meantime, to keep her rent paid, and her children fed? Wouldn't it be nice if she had some kind of foundation to fall back on while finding a new job so she wouldn't have to deal with the stress of her children going hungry? Or imagine a 45 year old Trucker, who has no other skills than the CDL license that he has had for 15-20 years. They start using automated trucking, and he gets laid off. Now what? Now he has to compete in a completely new job market with kids half his age, fresh out of college... He's at a major disadvantage! But if he had a basic income that would at least keep his rent paid, and his lights on, he would have more time, and less stress finding a new trade that he DOES qualify for. This is NOT "free money". The money is there, You, Me and every other working American has already paid for it, but it is just being used on far lower priorities at this time. We spend billions of dollars on Foreign Aid to help starving people in other countries... forgive my language, but What the fuck for!?!? We have starving people right here in this country that NEED that money! It's a common misconception that most wealthy people make, when they say that poor choices lead to poverty. It's quite the opposite really. Poverty leads to bad choices. When someone is in a situation that they cannot get out of, they do whatever they can to survive, and that often leads to bad choices. People that have nothing will often resort to theft, or selling drugs, or whatever they can to get themselves out of the bind that they are in. If you lower the poverty rate, you lower the crime rate. That is a FACT.
Jason Bossardt one of the rare sensible conments on this issue
Don't we already take care of people though? The working mother that you gave as an example would probably qualify for some government assistance. Likewise, the truck driver, would probably be on unemployment insurance for a few years and then be homeless.
Everyone in America is entitled to care at the ER (no one can get turned down at the hospital) and there are plenty of soup kitchens and charities everywhere. America already cares for its needy, so what is the point of Universal Basic Income, if we already allow those who don't have money to get help in some way or another.
clear mist employment insurance lasts for half a year
Get a PHD or a bachelors. You wont run out of work if you have a PHD in math or computer science etc.... But if you are serving big macs, you sure are running out of job soon.....
This has been argued since at least 1763 and there's no particular reason to believe it is more true today than it was then.
The spinning Jenny could replace a dozen or so people hand-spinning wool. Water pipes could replace horse carts lugging drinkable water into the city from a well somewhere no poluted with sewage and you didn't have to have all those people brewing small beer for your children so they could have something to drink that wouldn't give them cholera. Steam shovels cold replace at least a dozen people hand-digging with shovels. Coal replaced all those people chopping wood for fuel. A washing machine can replace at least a dozen people hand-washing laundry. Tractors, combine harvesters etc. could replace dozens of workers and meant that 90% of the population lost their jobs. Containerization meant that a freight ship could go from having a dozen crew members manually loading and unloading the cargo in sacks and odd-sized bundles to having 3 people operate a 140 000 tonne cargo ship. Digital spreadsheets meant that you didn't have to design paper spread sheets and calculate them manually. Harddrives could replace a dozen secretaries manually going through filing cabinetts and fetching data.
And here we are today. 99% of all jobs that ever existed are gone and most people still managed to find gainful employment.
What's true is that if you have a UBI that you can live comfortably on, then people will indeed not have any work. They will choose not to be productive members of society as it's easier than having the drive to fix your shit and find something to do.
Breaking News: Finland just cut back on their basic income experiment. Program being described on some as being on life-support.
Can't compare this to Yang s plan. This is more akin to finding people who have won the $500 a month lottery ticket
I could sure go for this. I had to give up my vehicle to get welfare because it wasn't enough to cover rent and insurance, now I can't get another job. UBI wouldn't penalize me for having a few bad months.
Surely that is why people put a bit of money aside to cover those periods when you have unexpected expenses or a slow down in your income? I mean, that is why it is important to have some savings.
@@davidwebb2318 may I ask what your income is?
Not a suggestion I hear often from below average incomes or people under 60 who grew up in an era when people made a bit more money than cost of living.
Andrew Yang for America.
Yang2020
NeverLetGo KojnKuv no
Yes!
No
Didn't work in Finland and won't work anywhere else.
@@11DNA11 It's working in Alaska.
Not enough to live on but enough to go on vacation.
What?
Oh, you can live like a king in many countries on 1000 a month? This is great; why work?
that part got me too
Came here to support Andrew Yang who wants to make this a reality!
Me.
Slightly different
@@anthonycollette4583 why slightly different?
Asiel MILIAN because it’s not UBI for the unemployed, it’s UBI for everyone.
@@anthonycollette4583 I know that. It's Universal.
I really liked that the gentleman you interviewed decided to return to school and get further education so that he could get a better paying job. He's a true success story and if the program could follow everyone who's getting this universal basic income, this would provide crucial data that would help to see how the program is working to take care of the people it's been given to and how it has benefited the local economy and society in general within the areas that they live. Other nations who may need to put a form of this program in place, especially here in the United States as we deal with mass unemployment and COVID-19, would also benefit from this data in order to help structure the program to the best outcome for everyone.
UBI is the best way forward.
1) Helps improves automation. This is because right now many unions block improvements as it will cost jobs. This means you pay more money to get worse services. This is very common with UK trains where we pay people to close doors. Some trains don’t have these “door closer” workers and it works absolutely fine. The unions continually strike to protect these people who close automated doors on trains.
2) Automation is coming and technology will always win out in the end.
3) stagflation is a real issue. Jobs are simpler and pay is less.
4) the system will fall apart if the Lower to working class population aren’t a part of the wealth creation.
The majority of research suggests that automation really isn't that big of an issue because lost jobs should be replaced by new ones. One of my favorite sources is a 150+ page report from McKinsey & Company. www.mckinsey.com/global-themes/digital-disruption/harnessing-automation-for-a-future-that-works
Can you explain what you mean with your 4th point?
5) From the point of view of Humanity, we should not let people die of poverty.
But if automation takes over, then what can we own. What about those who own the automation? Will they control us?
Why go to Finland when Alaska already is doing it?
And they've been doing it for, what, 40 years? That's where the research should be.
Maybe they want to travel?
They get it once a year, with a population of only 50,000 and it's only about 1,000-2,000$. Plus the cost of living there is high and nobody wants to live there.
It doesn't work. It does nothing for them.
Alaska is a state, a nation wide country is a better sample.
@Leo I looked it up. It's annual. And not a lot and has not solved any problem Alaska currently faces.
Why go all the way to Finland? Stockton CA been doing it and it works wonders
All the way? They went from London, where she had her office. If they had to go to USA it would have been a much longer way.
Luis D. I assume you’re an entrepreneur or business man yes?
Luis D. How did you know? Has there been a country where it was implemented on a large scale and it effed up?
Luis D. You’re trippin bro, ever heard of the saying why “the rich get richer”? Try that philosophy amongst people who’ve worked their whole lives working for whatever dollar they can get, YOU don’t understand real life experience in poverty. Yang has stated clearly why the value of the dollar will not decrease, Americans are smart when working on a budget, especially when you teach our people to be financially literate for FREE which is also part of his plan. That’s his plan dawg, they’ll realize they can be more effective now because their risk of trying new things are 3x more likely to effect their spending perspective, if all the stores raised their prices we’ll make more money and keep more at home like food and supplies because the VAT tax he’s proposing will do exactly just that. Your biased approach was highly irritating, get educated sunny.
Haha I like your comment. I can understand your feeling. Especially working and making a living with a serious disadvantage in a country I can barely speak any of the countries language. I survive due to my technical skills.
If a common man in USA wants to live as well as common man in Finland he has to pay much more than the finn does taxes included. The finnish system is more efficient. And there is more freedom here (in Finland). E.g. parents don't have to think how much they invest in children's education...it's paid already!!. They can concentrate on more essential issues. Helps you to be more creative.
More freedom? lol. The U.S. is the freest country on the planet and even they are oppressed by their government. The larger and more powerful a government the more it is oppressing.
Who should pay for your medical care if not you? Everyone else? Can't do anything for yourself, helpless little babies. Sad.
@@johnfrank1574
You know what is sad? Just a little example (out of many):
The US citizen Courtney Waldon was burned by her husband in the facial area and in many other parts of her body. Because of quick help she survived. To this day she suffers from the serious consequences of the attack.
For her treatments she now has to pay over 2 million US dollars.
Sounds fair, right? *Sad.*
That's horrific, not just sad. She was the victim of a crime and the sole person responsible for her condition is her attacker. They are on the hook for her medical costs.
@@johnfrank1574
Her attacker was her husband which claimed to have done it unintentionally. He doesn't have to pay for everything.
Here in Euope the society would pay for it. No one would have to pay a lot- just a little bit. And with that money she could get the best medical care, therapy, even cosmetic surgery and of course psychological help.
I am happy to be able to live in a country where I do not have to worry about the health of my fellow human beings and myself. And that my balance does not decide on my health and the welfare of my fellow human beings.
I really hope that you or your children never get seriously ill. 🙏
Hmm, $670 bucks a month? That's actually more that what the last flying job I interviewed for paid! 😕
KELA also pays your rent, medical bills etc. The absolutely LEAST amount of money given (free) to you by that government agency is about 450€/month. That is the sum that you will always have, after the rent is paid and other such nessecities are taken care of (it's not taxfree, that sum is after they also have been taken care of).
You are required to search for work, of course, but you will always get that much from the goverment.
So, if you have a rent that is 900€/month, and you need some medicatios for 50€/month, then you would get that 900€+50€ per month PLUS that 450€ in cash. It isn't that much, but at least you can fill one's basic needs - food, clothes etc. All (adult) finnish citizens have this "basic income/social security" income guaranteed. For life, if one should need it to be so.
That is (mostly) why we have no absolut poverty here and why our crime stat's are so low (when compared to US and such).
It could be a good thing, as it allows people on benefits (in western countries that do have welfare) to be able to realistically consider part time jobs. Because as it currently stands, taking a part time job, or inconsistent flexible hours at the employers behest, can actually screw over your rent support and could even put people at risk of homelessness due to not being able to pay rent that previously would have been covered. This gives them a buffer against that, and could be cheaper than a bureacracy that has to try adjust your benefit between many departments which is awkward if your hours are inconsistent.
Literally the most un-informing thing I've ever seen.
Instead of universal basic income you could also have something like a universal benefit card which could be used for housing costs, food, transportation costs other expenses only to prevent people for using it neferious purposes.
Thats introduces costly bureaucracy ... if someone spends all the money on video games instead of rent ... all the blame rests all on that idiot
If UBI were implemented in the US It would be interesting if the amount provided could be adjusted up or down say 35% by individual states/cities every 5 years or so.
This would not only provide a social safety net to replace ALL others.(welfare, obamacare, social security, food stamps, etc...)
But it could allow for natural redistribution of overcrowded population centers via incentives to move away to a different county/state.
Rural and/or undeveloped areas that are under populated and need more human capital can bring in citizens from overcrowded and over-saturated job markets in big cities.
You could argue this would just redistribute the "moochers" but that might not be such a bad thing. People are social animals after all, and there is a higher chance these individuals will become productive when surrounded by other productive individuals. Also bring them into areas that have little infrastructure or social gathering areas could motivate them to get off their butts and do something useful if only not to be hungry or bored in their small town. Highly productive individuals would not be affected by the UBI shift and can stay in the cities where they are needed.
A couple of issues. This was not a Universal Basic income. It was an unemployment basic income. The purpose of a universal basic income is to empower and supercharge local economies. they just found 2000 unemployed people that were scattered throughout Finland.
To get the full effects it must be UNIVERSAL. Not just to the unemployed. And people with then UBI must interact with one another.
Second, those receiving the UBI still received 80% of their welfare benefits. The incentive to not work was still there. You must completely get them off welfare and just on UBI in order for the incentive to not work to disappear.
This would be the proposal to end homelessness, curb addictions, lower suicide rates and criminal activities. It would create more opportunities to learn new skills like trades, more people would want to help others who are in need of help, more selfless actions, less financial and relationship issues. Less foreclosures. This would actually teach people how to use money more wisely. More people would have money saved up for fun stuff like traveling and hobbies and going out and not just on surviving and essentials. Money would be disbursed more efficiently. Less wars would probably be a result from this in the long term. And third world countries would eventually follow by example and end up becoming first world. Cartels would die out because countries would become less stressed and more stable economically. Crime would definitely drop and we'd shrink our prisons, suicide rates would most likely lower, people would be able to save more for a new car, keeping up on the modern times, to fix things, also be able to put more into a retirement plan. We'd probably end up saving a lot of money because people would be able to eat healthier, have more time and freedom to exercise more and being healthier means not having emergencies to the hospital and less heart disease and diabetes would become a long term result. Rich people would actually still be very rich because more people would be able to afford going to a concert or buying something they want at a store that they normally wouldn't get because money's tight. Homeless people would finally be able to pay rent somewhere and stay off the streets and away from hardcore drugs, they'd be able to also work and be productive for society helping the flow of money. More people would be willing to work a temporary or shit job that only pays 1500-2000 a month since they'd still have 2k coming in passively so now they're making double what they normally would make. Our national debt is almost 24 trillion dollars and keeps increasing more and more and faster by the year so our economy doesn't work. We have to try something totally new to save us and finally pay off and shrink our debt. The solution could simply be put the money in the hands of many instead of in the hands of a few. When you give a company billions of dollars at one time, corrupt things tend to happen that make the money not cycle in the economy properly. If everyone has money then all companies will get their billions but over the course of the year so they're more likely to move it around properly instead of stashing it away or putting it somewhere that it doesn't need to go. My list goes on and on. If we could give people 2000-2500 a month for existing and shrink our militaries. Many great things would happen. It would only cost us around 10 trillion dollars to give everyone this check throughout the year and you already know at least 5 trillion would go straight back into the market from living expenses and whatnot, another few trillion probably from companies and corporations, and other things. We would pay that 10 trillion off pretty quickly and then everyone is a lot better off financially and still working, and we'll find a better way to slowly pay off our national debt
If they gave just enough to cover rent - that would be absolutely life changing for me.
I could actually save to buy a house. And once I would buy one I wouldn’t expect to receive any more UBI.
We dont need a ton of money. Just enough to save
It's not intended for that. You will own nothing and be happy
@@lasttry99 that goes stongly against human nature
@@alfredjohnson3642 its not my quote it's the world economic forum
So 500 yes
Suomi mainittu, torilla tavataan perkele
Mokomakin torille
PER-KE-LE
I like tacos.
UBI is the future..it is a great concept. It will encourage creativity while also relieving those stressed about paying rent or affording food.
A good video, but it could have been a little more in-depth. The scenes were very short. Finland is one the best places on earth btw.
How about we reduce taxes(not just federal income tax) by $650 a month?
Then you get "Greece mkII".
A country that doesn't tax its citizens properly gets into severe economic and social difficulties.
Greece were lucky enough to be a part of a much larger socialist institution, the European Union; Germany in particular bailed them out on condition that they fix their fucking broken tax system!
Why is it that the "happiest" countries in the whole world, also happen to have very high tax rates? You would have thought they would all be a bunch of misery-guts!
U have to cut the govt bugdet by 29% if u wanna drop taxes
How much money are you making to be taxed that much
@Tom Caine most people in poverty have mental health issues or they are physically handicap. It's also not the government's fault u had 30 kids making 8 dollars an hour and have 5 baby daddy's . You can't just raise benefits for people on govt aid .
@@kimjong-un5562 we could easily cut 29% out of America's government
This is a great idea to get rid of the welfare bureaucracy.
Isn't it going to create MORE welfare bureaucracy.
Louis-Philippe Duval How?
@@ryansharp9222 Because the experiment was a lie, this isnt a UBI experiment, it´s a unemployed focused welfare plan, it´s a sham. Then people wonder, why precariat brexiteers come to O´Brian´s show to tell him their dad told them taxing the wealthy for the poor, is taken as taking them (the middle class)
"Let's take an ethnically and culturally homogenous tiny country's experience and expect it to work exactly the same in a country 10 times bigger and 100 times more heterogenous."
This is every Universal Basic Income story, ever, so it's nice to see a little bit of both sides here in this video.
Don't need to research due to the fact that a more money to spend is always a good thing. Who would disagree with that?
So you chose a small group of people randomly and started giving them money.
If the people getting the handout know it is a temporary thing they are going to spend that money differently then if they knew they were always going to have that money.
And no one yet has been able to answer two questions.... where does the money come from in the first place? And what happens when a large enough group of people decide the subsidy isn't large enough?
DeepQantas your question misses the point.... The money is only "already there" because the beuracracy has collected it in taxes. I don't get the chance to decide who can do it better. The government is still involved in the distribution regardless of it being cash or food stamps.
they can more wisely use that 100$ than waste 50$ in food stamp.
"...they can more wisely"
But the government is still the one handing out the money. That is the part you seem to be ignoring because the government doesn't have money to give out unless they first take it from some/everyone.
Chip Kerr To add to your line of thinking...
If everyone gets enough to live on, no questions asked, then over time more and more people will just opt to not work. As more people just sit at home and collect UBI, the number of people to feed goes up, and the the number of people feeding them goes down. More taxes. Which causes the UBI option to be even more appealing and...
You get where I'm going wih this.
"... then over time more and more people will just opt to not work"
History does not support this claim. There are people who will simply not work, but a large majority will work in some form or capacity.
The rest of the loop is mostly correct but is more accurately described like this:
UBI raises the amount of money available in the economy. Inflationary forces reduce the value of that money so that you have to work harder just to stay at the poverty line which will require an increase in the UBI subsidy (since it is tied to the poverty line) which will have an inflationary force on the money available reducing the buying power requiring you to work harder just to stay where you're at.....
An alternate loop would go like this: UBI lifts the poorest of the people up to a 'simple' life where they can afford a 'simple' place to live. Market forces and economic pressures reduce the buying power (or just reduce the value) of those simple places to live and then demands will be made to increase the UBI subsidy because it isn't enough to live in a 'simple' domicile. Those who work more/harder/better will be pointed to as having more than those at the bottom (wealth inequality, this excuse is already being used) so we must increase the UBI subsidy. Market forces and economic pressures again reduce the buying power of the subsidy and the wealth inequality still exists so the top have to provide more subsidy to the bottom....
The cliche is all boats rising in a tide. The reality of most welfare programs, and specifically UBI, is the reverse effect it has by making sure no boat rises any higher than any other boat. Because that will create a black-market of labor. Black-market is not the correct term but it explains it best because you will have people creating their own economy by getting paid in ways that don't get clipped by the taxman. We already have plenty of examples of this right now with the various barter systems, cash-only systems, and for those who can afford the accounts there are numerous ways to build 'tax-shelters' to keep your money in.
I have been in Tampere for my work. Lovely city!
First thing he bought, that kick ass slicker lol all joking aside I hope this becomes world wide. You’d be amazed at how even an extra 20$ can do for someone. I used to be on assistance and it helped heaps! I don’t know what life would have been like now if we hadn’t had the help, stayed on it for about 5 months? Then it gave me the ability to get to interviews, get to the grocery store, before that I’d walk rain, snow or shine everywhere, with my beat up running shoes, while pregnant or with a stroller.....it wasn’t a great time....but it’s definitely made me a better person I think...it’s showed me how hard and scary things can be and has made me very grateful for what we have now.
You take an unemployed person, give them some money so they can get a shower, a nice outfit, print out a resumé, and maybe they can actually get a job. What do homeless people in America do? Beg for spare change, go days without showering, scrap for soda cans to take to a recycling center, dive into dumpsters. I doubt homeless people actually want to do that, but desperate times call for desperate measures.
Yang Gang 2020!
I work because I want to do interesting things, not for the money alone.
Working for the money alone is the drama that many people live.
Cut your expenses, embrace minimalism, work for the interesting parts of the work and *be free !*
Depending on where you live you couldn’t afford a tiny apartment working full time for minimum wage
True
Should’ve named it basic in come. Universal means everyone, as in employees, caregivers, grandmothers, young adults and homeless and a couple rich folk. THEN record the data.
Exactly, this isnt a true UBI experiment, it´s a sham.
I find it fascinating that they speak English so well being that Finnish is such a different language from that spoken by any other country !
It's because all people in the Nordic countries learn English in school from the beginning. They know that being fluent in English is one of the most important keys to success in today's world.
actually Finnish have similarities to Hungarian and Estonian.
2000 People is a small amount. If they tried it with the whole country it would cause MASSIVE inflation.
foxglos 650€ is nothing but literally a little extra, the world and people around you aint as simple as you think at the moment.
H. L.
foxglos is correct. All it would do is cause inflation. It's exactly the same as printing a bunch of money and dumping it into the economy. It reduces the value of the money and as a result drives up the cost of everything.
yeah, they just exported "inflation" to outside of the "system"
It only causes inflation if they print the money into existence. If they rob the tax payers and use that money, there's no inflation.
Let me provide an anarchist's view of the UBI. First I have to say that the very premise of it is immoral. It's wrong to take from one man against his will to give it to another who hasn't earned it. THAT SAID...
We can't ignore the fact that welfare programs that essentially do the same thing ALREADY exist and are ALREADY imposing this immorality upon us in mass. In a perfect world, there would be no taxation but we don't live in a perfect world and I know society as a whole isn't going to give up its welfare state overnight. So, what can we do that's the LEAST immoral in the meantime?
Imposing the welfare state as we have it now requires dozens of government agencies and miles of red tape to administrate. It's fraught with waste and fraud. It under serves many and over serves many more. It's a HUGE expensive mess. So, what about the UBI?
The UBI is designed to fully replace ALL other government support subsidies. It's an automatic payment that takes just ONE agency to administrate (THE IRS) and can be nearly fully automated, which means manpower to administrate is nearly zero. Overhead cost savings alone is going to save us hundreds of millions, if not BILLIONS of dollars. Eliminating waste and fraud will save us billions more. The overall tax burden necessary to implement a UBI would be LESS THAN what it currently costs to administrate our cluster-F of a welfare state.
In summary, while I completely stand against what it represents, it's a FAR more efficient and cost effective way to implement a welfare state. It is FAR less immoral than what we are currently doing and is therefore a step in the right direction. I'm all about taking steps in the right direction.
@Tex It will not work. the amount of taxation it would need to cover the cost of the program, which would be much more expensive than unemployment benefits, would heavily penalize those that work, and provide NO benefit for them since they are "PAYING THE MONEY OUT" in their own taxis in the first place for you to "GIVE IT BACK TO THEM".
This would make it prohibitive to work which would result in a massive drop it state Taxis... So you'd have to borrow the ever growing shortfall. Which would result in a ruined economy and mass poverty, like every socialist/communist country that has ever existed, ever.
Well im from Latvia and without job and for past year and half working on my project to launch my small business. If we had something like that, lets say 1/3 from what Finland have for universal basic income then i'll be honest it would be first starting point of getting right tools to kick start my first steps to open business since im not willling to take loan from back due to high interest and unstable economic here. One way or other will stand on my feet.
Uldis Crystal Most people will not do what you are doing. They will blow the money on material items and then still be homeless and starving.
In the USA I mean
Luis D. I mostly agree. Was speaking from experience as I haven’t met many people outside the US.
I know I’d be investing the money, but no amount of money will efficiently fix the problems of a person who’s bad at managing it.
There is another one of these videos where they were applauding a guy for blowing the entire amount on a vacation
@@jno4159 Exactly, because most people need education and experience first and only afterwards can they invest good.
@Luis D. Yep you would think it's common sense. The intentions may be good, but in reality there are many people who will always try to find the easiest way out. Giving them free money is only going to supply drug addicts and perpetuate laziness. I'm one of those lazies and I'm willing to admit it. I live off my wife at the moment. And if you give me free money every month, the last thing I'm going to do is start working. I would laugh at you and just buy a new computer instead.
I think one key aspect was left out: those people who participated to this experiment were unemployed, and already were getting very similar amount of money from Kela. The difference here is that those participating can start business, study, or take jobs without losing the basic income. IMHO they should have made sample less random by having more long term unemployed people participating in this experiment.
Here's how it SHOULD work: A baseline income is established that can cover food, rent, transportation, etc. Next, those who are trying to find a job, having difficulty, and have no income, should receive the total amount without any cutoff period as long as the individual can demonstrate that he/she is trying to find work in their field. Secondly, anyone earning income that is less than the established baseline should continue working and have their income bolstered by an income subsidy. Anyone earning the baseline income or greater would not receive any additional funding from the government.
Lastly, if an individual were receiving basic income, they would need to attend a government based career development program to help the individual find employment. The purpose of the program would be to find the individual work in their sector that would either partially or fully cover the money that was once given as basic income. In this way, society would have a vested interest in keeping you employed and helping you to succeed.
This idea has bits from how EI works in Canada, but with some serious amendments (higher baseline salary, no deadlines, mandatory employment programs). People need to be incentivized to find work, but shouldn't feel like they will be abandoned either.
Nice work on the reality tv show background music. Really seems like CNBC is trying to negatively spin the UBI.
you pick one guy and try to make conclusions from that ... thats not a science , thats cherry picking
You should have just traveled to Alaska , every Alaskan get 2,000 dollars no questions asked. They working their butts off
One thing the interviewer forgot to explain as UBI recipients who earns over certain amount say for example $150k/yr it will be fused to there income tax, so its cheaper to get it back through income tax.
Personally I don't see the problem of citizen of different wage group gets it wether they don't work or working this system actually helps middle class, the unemployed and small business.
Yea instead of having wage cutoffs for UBI it should just be embedded in the taxes that after a certain point you don't gain money from the program.
UBI increases bargaining power for workers because a guaranteed, unconditional income gives them leverage to say no to exploitative wages and abusive working conditions. Employers can't push workers around as much. UBI would be the greatest catalyst for new jobs, entrepreneurship, and creativity we have ever seen.
This guy who hasn't worked for 16 months now has the flexibility to take a family vacation....good... that's just what unemployed people need to be worried about is the vacation from the non-work they have.
OMG he got a job in the mean time .... watch it again.
If he didint find a job do you really think he would be going on vacation?
Numerous studies have shown that if someone is capable of working but is on unemployment insurance, when the payments stop, oddly enough most of these people find work.
Not having work is not stress free and is not a vacation.
Thank you thank you thank you. My exact thought
I heard that and did pause for a second thinking I misheard him.
Update: Finland pulled the plug on the program. If they couldn't make it work for just 2000 people, how is it supposed to work for an entire country...
UBI best idea for human beings as AI robotics increases humans can still have preference and jobs throughout their lifetimes.
Lower crime rate.. that is a plus 😎
Looks like Mica bought a nifty cowboy hat and jacket with the money
the reasearcher said they had to limit participants only to select people who are unemployed. so my guess is he got employed in meanwhile and experiment rules probably were not to kick such person out of programme to have data also for such possibilities.
how do you know?
I'm in finland.... and it's grey, cold and raining.
UBI needs to REPLACE the layers of government programs. Having both is too expensive.
So long as society can provide education, food, health care, disabled care, childcare, and access to data, then UBI does not require any other social programs. America has most of the basics already. Fund the systems we already have, and switch tax credits for Basic Income. Cut down on paperwork & paper-pushers with blockchain automated government function and America could free up the workforce we'd need to drive the private sector.
Nathan Phenicie where do you think that money comes from??? It is why the wealthy LEAVE Finland! Finns are also a very active healthy largely homogenous society as far as race and religion. Everyone is required to do 2 years of civil or military service, charitable giving is low (because we figure we already gave the government enough money) homeschooling is illegal. The more you depend on government the less choices you have
Where pray tell, are all those people going to find jobs in an economy that is crashing because of Technological Disruption due to Innovation... add to the jobs lost in the bureaucracy of welfare, the jobs lost in Trucking, Automotive Repair, Health Care, Private Health Insurance, Stock Market, Policing, etc etc... this is going to happen regardless of what the Government or the Oligarchs want or don't want... It's like King Canute standing in the English Channel demanding that the Tides obey him... but instead of the King, the USA have a President and Congress that refuses to admit that "The Times, They Are A Changing" Get ready to learn to breath underwater, or hope some one in Government get's their ass in gear and sees what is coming.... or perhaps as another video suggested, this is all planned, and the useful tools will be eliminated in the process... grim as that maybe... czcams.com/video/3UeyC_JcquQ/video.html
this is the full interview czcams.com/video/y3qkf3bajd4/video.html
Everyday Is Merry Christmas i have lived in Oulu off and on for the last 15 years. Until 2015 it was COMPLETELY illegal to homeschool. It now is legal ONLY when you partner with the municipality and have approval. What "Finnish: shocks are you talking about? Nokia (the largest and most popular) is rated 2 stars
Kristen berer I am a wealthy finnish person and I am not leaving anyware. There is a long-term empirical evidence that nordic wellfare system is a winning concept. Based on trust, equality and wilingness to pay taxes. I love taxes and regulation!
Mika - how much does Finland invest in its military?
UBI has to be implemented otherwise we have to stop all scientific improvements.
Seriously, what Jobs can you do when machines and computers can do everything better than you?
UBI is a dividend from machines taking off most of the work.
I wonder if CNBC was able to follow up on this story after the Finland Trial was complete. Wasn't able to find a video on the series after this one.
This isn't Universal Basic Income. The whole point of UBI is that it's a sum which gives enough money for housing, electricity, internet, food, phone and local travel for a month. It's meant to be the minimum amount you need to survive and it's not supposed to impact your earnings whether on welfare or if you have a job. This is supplemental income. You're supplementing something people are already earning which is a good first step but not a replacement at all.
UBI is the natural transitional step towards a moneyless future like in Star Trek where people do tasks because they want to and all the basics are provided by Ai, robots, and automation. People today have a hard time picturing a future where working is optional and money is meaningless but it will happen and humanity will be better for it. People's assumptions that our purpose is to become workers to earn as much money as possible are just immature. We only work to make money to provide ourselves with survival tools but we get purpose from doing things we love which for most people is not working but passion projects and it will be a better world once we can focus on that instead of just survival.
great post
UBI is a natural transitional step towards a moneyless future like Venezuela.
The Federation still uses currency, there is also still private property. The Federation != Communism. They're still capitalistic it's just nobody starves or goes homeless. The harder you work and the more you do to benefit the Federation the more you are able to accumulate and/or acquire that which you desire.
Your belief that we will reach that Science Fiction level is problematic, because everything we make costs resources. Until we find out how to create matter out of nothing, this will never be true, since an economic system exists to balance how resources are spent. If a resources is more rare it costs more, if it is more abundant it is cheaper.
@@TheBrazilRules In Star Trek it costs energy to use replicators, energy is their currency. Watch Voyager if you want to see what a small scale economic system of the Federation looks like if it were in a dire situation.
yea but I don't see.. any money flowing yet.. and why.. not Winnipeg too getting ready for the money flowing man
the point with universal income is that minimum wages must adjust accordingly as well so that may be a problem with this trial unless they have allowed for that...
the point is that people cost about the same to employ and have about the same money but if they need to change jobs it should be less problematic and companies will be paying that portion of the wages in tax anyway so there is no reason to be to stingy about employing people because they are already doing that halfway anyway. or something like that...
since the cost of loosing a job is less this should also make it simpler for them to fire people when they need to and rehire when they need too...
basically making the workforce more flexible without making their income insecure.
more mobility and flexibility will help companies get through touch times and grow to employ more people...
a trial of this system really needs to enable that as well...
So they could only find one person on it, the researchers aren't able to release any information, other than they are having trouble funding it. But then can say, "It's off to a good start..."
You want something that will work better? A negative income tax. It is the compromise that more fiscally conservative people will support, it is easier to fund, because it reduces as your income goes up, has no cliff like welfare does, and doesn't give free money to the wealthy. But it would need to replace most if not all welfare types of systems.
Unlike UBI, where people just say, "Lets just give money to people", a reverse tax has some real economic math behind it.
Unconditional basic income magnified to the whole economy would increase immigration. Keep it in Finland
@2:12 The man admits that the basic income “encourages people to work” not sure why they didn’t emphasize this confession. In fact, it’s almost cut off
Do they get housing benefit apart from the basic income ?
good question
They apparently have full housing benefits because in the US getting a housing choice voucher whether you are working a low-income job or unemployed or retired and awaiting Social Security, that UBI money is used commonly for rents, if you are lucky enough to get it.
"We've had to make some compromises," so let's skip over all those compromises, where the cost really goes, what's being given up, all the stuff that is negative, and just make it sound like the only bad news is that we aren't yet handing out free money to everyone! We're honest journalists, really!
No, no, "honest journalist" is quite evidently only to be used as an oxymoron in your presence . . .
I'm a libertarian capitalist, and I think this experiment is a good idea. Too often we have politicians in the US who just argue back and forth with each other about what each side thinks will work. If actual experiments like this are done, then we can actually see if certain policies work or not. Right now we have a bloated welfare system that spends so much money just figuring out who to give the money to. UBI could have advantages that I am open to considering.
You might be interested in my videos about UBI and Land Value Taxation.
You are not a libertarian capitalist. You are a libertarian socialist.
Socialism entails the Social ownership of the means of production. He has not shown any such ideas.
Hey, that extra money would really help my business out. Maybe we could hire another employee. Oh, I don't qualify? Sorry Joe, back to the unemployment line...
If i had free money from UBI i would use it to pay bills, buy food and use it to support myself while i try to get a higher education(masters degree) and or find another job.
I would start a business if someone gave me free money for 1 year.
Right now, I do not have time. I'm employed!
To give people $600 a month the gov has to get that money somewhere. No free lunch issues come into play; taxes go up, or printing more money devalues the dollar... like that.
Over a long enough time frame in a country like the US 10s of trillions of dollars get added to the gov budgetary out going column (~2,000,000,000,000/yr at $6,000/yr x 300,000,000 US citizens)
Next thing you know you're talking about real money.
This video does not really touch the financial burden of a large scale implementation of this give away. Plus, entitlements are already a budgetary problem in many countries.
T.B.A.R.R.O. why does the government spend so much on secret military programs and useless stuff like that then?
EElectric_M both of you are right and wrong at the same it's not that either welfare or military is a waste it's that both of them are a waste and this could be payed for if we cut both of them but not if we only cut one
You can cut all welfare, cut all Social security, Cut Healthcare, and cut any government assistance program and funnel all the funds into this. everyone should be given $3000 or enough where they can have enough for rent, food and to live peacefully. whatever money people make working you can charge more for taxes. This is going to happen it's not a if, but when. automation will take over many peoples jobs, and there will be thousands of people out of work. Reduce Military budget by 25% all that money going into inventing new ways to kill each other and funnel wealth into the rich.
If done right, cost is minimal, but they'll never do it right. The RIGHT way is to give EVERYONE, equally, basic income money IN PLACE OF fiat money creation by central banks. Kill the entire notion of fractional reserves and debt-based money.
Robots are going to be AI driven, androids will be given citizenship for tax purposes. robots will also be paid for their work through cryptocurrency.
ANY govt handouts just ruin the attitude of the working class who have to PAY for it.
Michael Beerbados Finns don't think like that
Michael Beerbados 😂 murrican thinking like murrican, culture outside of your basement can be a bit different, just like Finns doesn’t married their cousins like you did
Like government hand outs to Oil companies and military contractors . The US people paid those taxes why are they going to Oil Companies in Saudi Arabia and buildings in Afghanistan and contractors .... those companies did not pay those taxes... regular people did.
People that pay the Taxes are Entitled to receive benefits for the taxes they paid out
Thanks for investigating and sharing this segment. We’ve had trickle-down economics in the US for a long time, which is obviously not working for majority of Americans. I support trickle-up economics (or trying it, at least) for a change in order to see if it will create the transformation that Andrew Yang [and other visionary leaders and economists] think it will.
And what happens if they blow the money and need food? Do you let them starve or do you give them even more benefits?
She didn't interview the peopie who are forced to pay it... And why didn't she ask the man who gets the money if he's ok with the fact that people who will not participate in paying are send to prison?
Why don't we ask the uneducated Americans without health care or future prospects how they like living without basic income?
Newsflash: everyone also pays. It's called a society.
are you going to complain about taxes used to fund social security and healthcare now?
Jeroen van Beek because this is a fake interview..
You must be american. Welcome to europe.
The US spends $600,000,000,000+ on military nonsense every year, and people in the US still say bUT wHerE dOeS tHe MuNny CoEm fRoM?
Idk dude, maybe when I get done automating your job, your wife's job, your daughter's job, and your parent's job... I'll ask you the same question.
You didn't make an argument, just attempted insults
UNIVERSAL basic income but only for 2000 UNEMPLOYED people. Wow, what a great and enlightening experiment.
the Finland experiment is different from other experiments.
This should be worldwide not just for the unemployed
I recommend you all watch 'Obsolete' from Truthstream Media, it covers this.
The "Freedom Dividend" VAT should be ALL businesses (corporations and owner/operators) Also consumers. A sliver from all business transactions, and sliver from all consumption. I think all those slivers combined would be sufficiently fulfill the $1000/month.
Come to Belgium ! 400.000 people receive that same amount every month,virtually no strings attached
Yang2020
A family vacation from the pockets of tax payers. Just wow.
It´s what they get for not making it universal and go back to welfare for the poor, tax the wealthy because they are successful nonsense.
Successful your definition of success is the problem
This could be implemented everywhere as most jobs will become automated and many people will be unemployed. They will need to tax companies who become predominantly automated and raise the amount provided for the ubi so that people will be able to afford their monetary requirements.
How do I sign up for that
Before I start: I used to be against universal basic income, but oncr I read more into it, I changed my mind.
The point people seem to miss is that within 10 years most of the jobs we know now will have disappeared because they are automated. A lot of people will not have work anyways. The idea will be that companies will pay automation tax, that can be used to fund basic income. It will free people up to enter into new fields like science, programming, or arts. This will lead to more and faster development in those fields.
Yes there will also be people that won't want to do anything, but you have those right now as well. The vast majority of people wont.
humans are the only species FORCED TOPAY TO LIVE
Sounds locked in an old system of thinking. You tax alcohol, cigarettes, pollution because you don't want those things. And in the old current system you tax work because you want other people's money. Antibad taxes just can't feed the current welfare state personel's lust for more money though (including welfare recipients) so antigood taxes are used aswell. The downside of taxing good things such as production is of course less good things like production. With the option and current habit to print money out of nowhere instead of taxing why would you want to keep restricting production by taxing it when a robot does it? Why not just print the UBI money?
+Smackbox Pretty sure hes not talking about a tax as punishment for Automation, but if companies choose to automate they pay a tax which then in turn funds a system of universal basic income which would probably be cheaper than hiring workers anyway. Its kind of a win win for both the corporation and the people who lose out on jobs so in theory it isn't the worst idea I've heard.
reaper39, " Pretty sure hes not talking about a tax as punishment". How he talks about a tax doesn't change the tax itself. It's like thinking that if you call forced penetration for making love it's effects will go away. Words don't change the fact. While you may get many supportive followers for what is described as an "act of love" or "taxation not to punish" at least some of the women or men targeted still know she/he was raped and will withdraw accordingly and the working person will know his or her money was taken and will withdraw from work. Fools might be fooled but the rest are not.
What is the point of production?
Universal basic income is going to be a necessity in the near future for sure. There are serious problems with simply handing out checks from the government unfortunately. There is a simple solution to basic income however. If basic income is run through the free market it can safely and effectively be created. In the first episode of my podcast The Kevin B. Green Show we discuss my solution to this problem. Free market basic income is truly the solution to the problem. If your interested in the concept of basic income and optimistic that it can be implemented and used to end poverty check out my first episode.
The Kevin B. Green Show episode 1: The solution to basic income
Wait why did only the unemployed receive it? Its supposed to be for everyone that one factor skews the control test parameters to create a baseline for everyone. So when you get this basic income, at what age? Is it based on number of people in your family? Where does the money come from? If we simply print more money to hand out, then what value does money essentially have if everyone has it? Then if gov't just simply print more money, they go further in debt, reducing the value of debt it simply means nothing. Welfare in America is basically what they are talking about. We give money for food and clothing, we supply housing, cell phones, transportation etc. All free of charge to those receiving it, and in fact here is an incentive , the more kids you have the more money you get. So we just encourage the hell out of the sorry to stay sorry and do nothing for themselves. That's what this program is about, because there is no way it will close any gap between the 1% and the poor. Its a con aim aimed at keeping people poor that's all it is.
There was something like that in ancient Rome, but then it turned out to be destructive for the Roman economy.
It might work as a replacement of the welfare state, not as an addition. Combine it with a flat tax and you solve the poverty trap !
Flat tax favor the rich... no.... if you averaged out taxes and made poor people pay that rate.. you are screwing many people. Every extra dollar you earn depreciates in its ability to approve your life (your millionth dollar does less than your first dollar) you are highly favoring the rich and based on your literacy I doubt you are that wealthy. You are just an illiterate bootlicker
you can only fix the "poverty trap" by investing in gold and stop investing in "lottery tickets"
@@KickinAss1000 It´s basically "screw the middle class"
@@sebas8225 do not invest in gold please.. unless you have an in with gold manufacturers.. becareful of scams.
Yes the middle class does take a hit.. but starving families who cant even fix there car let alone find somewhere better to live is my priority... the state of the US is fucking disgusting
Andrew Yang for President 2020.
This would require a huge tax increase to fund in the U.S. Good luck with that.
I'm not a socialist, but I admit as a young unemployed man this sounds very enticing.