Universal basic income - Europe's latest social experiment
THE new year started on what some would consider a very happy note indeed in at least two countries in Europe: a new law giving workers the right to unplug from any office e-mail after work hours took effect in France on Jan 1, while Finland launched a scheme that pays all working-age citizens - including the unemployed - 560 euros (S$840) every month, no strings attached.
While the "right to disconnect" law can probably be linked to the joie de vivre spirit of the French, and is not widely expected to inspire many other countries to follow suit (although wellness gurus and other advocates of worklife balance have lost no time suggesting how people outside France can similarly tune out), the Finns' two-year social experiment with the universal basic income (UBI) has a much broader background, and will be closely watched around the world. In Europe, pilot UBI schemes have been, or soon will be, underway in four Dutch cities and in two Scottish councils, as well as across the pond in Canada. And not least, the scheme was roundly rejected in Switzerland last June, when it became the first country to hold a public referendum on a basic income proposal - nearly 77 per cent of voters opposed t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
Far from thawing, the US-China economic war could see a new front opening up