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The economic principle I’m exploring is “People respond to incentives in particular ways”
My research question to help me study the economic principle is “What’s up with UBI?”
The article published by CNBC titled “Finland Set to Scrap Free Money Experiment ” informs me that the experiment in UBI set up by Finland is not doing so good. The request to extend the trial was rejected, and we will not know the results of it until 2019. Therefore, I unfortunately cannot inform the public (as is my duty) of how this relates to the pros and cons of UBI. The most likely reason is probably that the government didn’t want to spend more money, a completely baseless assumption I am making because that’s normally how these things go. Meaning that UBI failed, even in a socialist country.
In my next blog post I will research: What economic policies WON’T fail, as it seems like literally all of them do, except maybe bartering. Maybe.
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