Could Basic Income End Poverty?
Untapped Potential of Universal Basic Income in Our Fight Against Poverty
In inequality, could a guaranteed cheque be the great equalizer?
Suppose you will, where hunger-gnawing pangs don’t dictate your day’s rhythm. A where the roof over your head isn’t a privilege but a given, and the electricity that powers your children’s dreams isn’t cut off mid-spark. This isn’t a utopian fantasy or a distant reality — it’s the fundamental promise of a Universal Basic Income (UBI).
The concept is simple: regardless of employment status, every individual receives a regular sum of money from the government with no strings attached. But the implications? They’re anything but simple.
So, let’s start with the question on everyone’s lips: Could Basic Income end poverty?
Our data is both a lighthouse and a foghorn, guiding us through the misty debates surrounding UBI. For instance, consider the experiment in Finland, where 2,000 unemployed individuals received €560 per month for two years. The results, published by Kela, the Finnish social security institution, indicated that while employment levels didn’t significantly improve, the recipients reported better well-being, mental health, and financial security.
