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    Israel and Iran agree on ceasefire – Trump

    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

    Breaking: Iran launches missiles at US bases in the Middle East

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    US military strikes Iran

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    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    • Nigeria
    • Africa
    • World
  • Economy
    • All
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    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

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    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

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    Air Sierra Leone commences flight operations to Lagos

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    MTN Nigeria to pay over N200 billion final dividend for 2022

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    Sovereign Trust Insurance Plc grows Profit after tax by 43%  in Q1 2021

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    Legend Internet Plc reports N32.9 million profit for Q1 2025

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    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    How Donald Trump won the 2024 U.S Presidential Election

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    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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Germans to get $1,400 a month for 3 years, no questions asked in Universal-basic-income trial

Thursday, 20 August 2020, 12:40 pm
in News, World
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Germans to get $1,400 a month for 3 years, no questions asked in Universal-basic-income trial

A german flag waving at Brandenburg Gate

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Starting this week, 120 Germans will receive a form of universal basic income every month for three years. The German pilot study will see these people handed the monthly sum of $1,400 to monitor how it changes their work patterns and leisure time.

The study will compare the experiences of the 120 volunteers with 1,380 people who do not receive the payments.

However, the academics behind the study want to find 1 million applicants for wider participation by this November. From that group, 1,500 people will then be selected for the three-year income experiment.

The study, conducted by the German Institute for Economic Research, has been funded by 140,000 private donations.

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All participants will be asked to complete questionnaires about their lives, work, and emotional state to see whether a basic income has had a significant impact.

Germany will become the latest country to try the idea. Universal basic income is the idea that a government should pay a lump sum of money to each of its citizens, usually once a month, regardless of their income or employment status, effectively replacing means-tested benefits.

Its proponents argue that it would reduce inequality and improve well-being by providing people more financial security. Its opponents say it would be too expensive and discourage people from going to work. The idea has gained traction in recent years amid financial crises and growing inequality in some Western countries.

Jürgen Schupp, who is leading the study, told the German newspaper Der Spiegel that it would improve the debate about universal basic income by producing new scientific evidence.

“The debate about the basic income has so far been like a philosophical salon in good moments and a war of faith in bad times,” he told the newspaper.

“It is — on both sides — shaped by clichés: Opponents claim that with a basic income people would stop working in order to dull on the couch with fast food and streaming services. Proponents argue that people will continue to do fulfilling work, become more creative and charitable, and save democracy.

“Incidentally, these stereotypes also flow into economic simulations as assumptions about the supposed costs and benefits of a basic income.

“We can improve this if we replace these stereotypes with empirically proven knowledge and can therefore lead a more appropriate debate.”

A pro-basic-income lobbying group called Mein Grundeinkommen is funding the experiment. The group has used donations from its supporters to fund monthly €1,000 payments for 668 people since 2014.

Finland experimented with a form of basic income for nearly two years: From January 2017 to December 2018, 2,000 unemployed Finns received €560 a month. But the researchers behind that trial concluded that while it led to people out of work feeling happier, it did not lead to increased employment, the BBC reported.

Written by;

Nnamdi M.

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