Imagine getting a check from the government every month. $600 guaranteed. It’s happening in Finland, where a pilot program is being launched to test what’s known as a “universal basic income.” As technology transforms the workplace, jobs and income will become less reliable. The idea is that a universal basic income could serve as a tool to combat poverty and uncertainty in a changing society, and provide a cushion that empowers workers, giving them latitude to take risks in the job market. But some argue a guaranteed income would take away the incentive to work, waste money on those who don’t need it, and come at the expense of effective programs like Social Security, Medicare and Medicaid. Is the universal basic income the safety net of the future?
Jared Bernstein1 Item
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- Senior Fellow, Center on Budget and Policy Priorities & Former Chief Economist to Vice President Joe Biden
Jason Furman2 Items
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- Fmr. Chairman, Council of Economic Advisers & Senior Fellow, Peterson Institute