Germany begins testing with a base income of 200 1,200 per month | Money

Germany begins testing with a base income of 200 1,200 per month |  Money

Funding for the project comes from donations from 181,000 people. Its purpose is to examine the effect of a basic income on the background of a scientific study.

“For the next three years, we would like to explore experientially how unconditional and regular payments in excess of the minimum standard of living have an impact on people’s behavior,” says Jன்rgen Schuber, director of science at the German Institute for Economic Research (DIW).

A similar study has been conducted before, but on a smaller scale. It ran for a year from 2017 onwards. At the time, about 85 people were receiving 1,000 euros a month. But those with low incomes mainly in the test subjects, now anyone can apply. So the basic income received can be linked to a job: money is deposited unconditionally.

Candidates are between the ages of 21 and 40, and according to researchers, people generally make the most important decisions throughout their lives. “We want to see to what extent basic income affects those results,” said Michael Bomeyer, one of the founders.

This research is being co-sponsored by the Max Planck Institute and the University of Cologne.

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About the Author: Will Smith

Alfred Lee covers public and private tech markets from New York. He was previously a Knight-Bagehot Fellow in Economics and Business Journalism at Columbia University, and prior to that was a reporter at the Los Angeles Business Journal. He has received a Journalist of the Year award from the L.A. Press Club and an investigative reporting award from the Society of American Business Editors and Writers.

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