- The Facts:A small trial in Germany is set to take place giving participants $1400 a month for three years. They will compare the lives of those who receive it, and the participants who don’t.
- Reflect On:Why is the concept of universal basic income rejected by the major political parties in most developed nations? Why do we have a private company like the Federal Reserve printing/creating money at will? Is centralized banking the best way?
What Happened: Germany is starting a universal basic income trial where volunteers will get a $1400 dollar payment every single month as part of a study that will compare the experiences of 120 volunteers who receive it to 1,380 people who won’t. A total of 140,000 people have come together to help fund the study after the idea of a universal basic income continues to gain popularity. Germany is not the only country who has begun such initiatives, Finland also did something similar a few years ago, and proponents of the initiative believe it would improve peoples’ lives and reduce inequality, among other things. Opposition arguments to this type of initiative suggest that it would simply be unaffordable, too expensive and also discourage work.