Finland Basic Income Experiment

The Finland Basic Income Experiment was a government project from 2017-2018 that tested whether providing a fixed monthly income of €560 to unemployed individuals would improve their well-being and employment prospects. Over 2,000 people received the payments regardless of their job-seeking activity, with no strings attached. The goal was to simplify the welfare system and explore if basic income could reduce poverty and encourage employment. Results showed improved well-being and reduced stress for recipients, but it did not significantly increase employment rates compared to those not receiving the basic income.