Should Europe Implement Universal Basic Income?

by Global Risk Insights
Financial Sense

Switzerland has voted against a universal basic income (UBI), but the debate continues across Europe. Does a guaranteed wage to all citizens bring opportunity to Europe’s troubled workforce, or only impose greater risk?

When 77% of Switzerland voted against universal basic income for all citizens earlier this month, it was not—as the outcome might suggest—the death of a progressive idea. Across Europe, debates about introducing a flat sum to all citizens, regardless of employment status or income, are taking place at all levels of government.

While Switzerland is the first country to hold a referendum on a universal basic income, Finland and the Dutch city of Utrecht have actively begun planning pilot programs to study the potential effects of a basic income on society.

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