On first glance, many may think the idea of giving everyone free money is absurd. However, Sean O’Grady argues in an article in the Independent that a universal basic income, as soon to be tested in Finland and other countries, may have significant merit.
The benefits include lower administrative costs and the elimination of “poverty traps” created when government assistance diminished as an individual’s income rises. Indeed, a basic income might induce more people to work harder.
Despite some worries about implementing a basic income in the United Kingdom, such as the need to cover high housing and childcare costs, O’Grady thinks the British should consider copying the Finn’s new approach to welfare.
Sean O’Grady, “It’s time to copy Finland and give every citizen a basic income”, Independent, December 8, 2015.
