20. Why I’m pro universal basic income

I came across the news about Finland carrying out a new basic income scheme. They are giving 560 euros per month to the select citizens under the trial program. Regardless whether you get a job or not, you will still continue receiving the stipend.

Without further research on this topic, my instinctive take on this was yes, it’s a great move.

I had my reserve initially. Putting my capitalist hat on, I just thought getting rewarded for doing nothing is ludicrous. It would inhibit people making anything out of their lives. They would get comfortable. Stay stagnant. Just existing.

But having thought about this further, I could see why this could be a good thing. 560 euros is not a big sum for you to lavish on anything. It’s just a nice amount to sustain your life. To pay off your day to day necessities.

It’s a just nice amount to take your stress off surviving, so you can focus on actually living.

Without the worries of paying bills, people will be free to do things that matter to them. Humans are creatures that always look for more. So once they fulfill their basic needs, many I believe will venture to build an even better life. They can focus on producing creative work and starting their own projects. Do things that are meaningful. Things they do because they want to not because they have to.

Besides, the government is already spending thousands of dollars per individual on all kinds of benefits. Why not pass some of those sums to the individuals directly. Let them decide how they can better their lives with the money they control. I’d say the government should look at it as an investment they make in their own country. Less financially distressed citizens could lead to less crime, better labor and bigger innovations for the country. It’s a big investment but the payoff could be big in the long run.

I know it sounds very ideological. There are many complications and limitations I have not considered. But I’ve come to learn that there’s never a one size fit all solution anyway. When you please a group, there will always be another one that you upset. When you see an upside, it’s always accompanied with a downside.

The question is always whether the good could collectively trump the bad.