Swiss voters overwhelmingly rejected the idea of a universal income, under which every resident would receive a monthly stipend, regardless of their employment status.
Under the plan, every adult over 18 would have earned a monthly income of 2,500 Swiss francs (about $2,563). Children would have also received a monthly stipend. The funds to support the plan would have come from the profits of the lucrative Swiss banking industry.
Despite about 77 percent opposition to the plan in the wealthy nation, some experts on global capitalism maintain that it could someday become a reality in Switzerland and elsewhere.
“I believe that every child that gets born should have a minimum trust fund that allows that child to live in freedom, in dignity, and then to do what they can with their talents if they want more,” Greek economist Yanis Varoufakis said during an April discussion of basic income and the future of work at Gottlieb Duttweiler Institute, a German economic research think tank. His remarks are excerpted in a June 3 video from acTVism Munich, an independent media outlet.