Author: automata

By By Joe Mueller | The Center Square, (The Center Square) – Boulder County will spend $6 million in federal funds on a basic income program, giving $300 per month for two years to 725 qualifying households with no restrictions.

The program, commonly called universal basic income, is one of dozens around the country. A 140-page study by the National Bureau of Economic Research found the programs led to a reduction in annual total individual income of approximately $1,500 and a slight decrease in the number of hours worked per week. Total household income decreased approximately $4,100 per year, according […]

Full Post at www.newsbreak.com

Over at AEI, Kevin Corinth comments on the new UBI study I mentioned on Monday. He summarizes the main result: In a carefully conducted randomized controlled trial involving 3,000 participants, the authors find that giving low-income families $12,000 annually reduced the share who work by two percentage points. He then reminds us that it isn’t a new finding:

The new study is the latest in a line of recent research finding significant employment loss from giving people cash. Earlier this year, a study published in the Quarterly Journal of Economics found that lottery winners in the United States reduced their […]

Full Post at www.nationalreview.com

Years ago, OpenAI CEO Sam Altman set out to discover what would happen if people were given cash every month with no strings attached. This week, the results are in from the largest universal basic income study in the U.S., though how it went depends on how one interprets the findings.

Right-leaning Reason writes, “ Bad News for Universal Basic Income : Researchers found that giving people $1,000 every month for three years resulted in decreased productivity and earnings, and more leisure time.”

Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.Point phone camera hereCenter-rated The Register writes, […]

Full Post at san.com

Thailand Prime Minister Srettha Thavisin has a simple but pricey solution to the country’s economic woes: Give everyone cash. Thailand has a simple plan to boost its pandemic-hit economy.

It will give $275 to about 50 million people, more than two-thirds of the population.

AdvertisementThailand is the latest country to experiment with a cash handout program, hoping it will help its economy recover from a pandemic-induced slump.Prime Minister Srettha Thavisin said the program — called "Digital Wallet" — will offer payments of 10,000 baht, or about $275, to anyone making less than 840,000 baht, or $23,000, a year.In Thailand, […]

Full Post at www.businessinsider.in

TCS – Cash money (The Center Square) – Boulder County will spend $6 million in federal funds on a basic income program, giving $300 per month for two years to 725 qualifying households with no restrictions.

The program, commonly called universal basic income, is one of dozens around the country. A 140-page study by the National Bureau of Economic Research found the programs led to a reduction in annual total individual income of approximately $1,500 and a slight decrease in the number of hours worked per week. Total household income decreased approximately $4,100 per year, according to the study. However, […]

Full Post at www.thecentersquare.com

Silicon Valley’s support for the UBI is premised on the notion of AI-driven job losses (Image credit: Antonio Solano / Getty Images)

By Joel Mathis, The Week US

in why everyone’s talking about One of Silicon Valley’s favorite ideas isn’t really tech-driven. The universal basic income — "cash aid from the government, no strings attached" — is the tech industry’s solution to the anticipated wave of job losses created by the rise of artificial intelligence, NPR said. That’s why OpenAI CEO Sam Altman has spent the last few years funding an experiment in giving people free money. "Do people sit […]

Full Post at theweek.com

One of Silicon Valley’s favorite ideas isn’t really tech-driven. The universal basic income — “cash aid from the government, no strings attached” — is the tech industry’s solution to the anticipated wave of job losses created by the rise of artificial intelligence, NPR said. That’s why OpenAI CEO Sam Altman has spent the last few years funding an experiment in giving people free money. “Do people sit around and play video games,” he asked in a blog post, “or do they create new things?” Now we have some answers.

New results from Unconditional Income Study found that giving $1,000 a […]

Full Post at solondais.fr

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Sam Altman, known for OpenAI (the people behind ChatGPT), works with another non-profit that focuses on research. You’re never going to guess what the organization is called! (Yes, it’s OpenResearch.) Recently, the entity released the largest study to-date testing the concept of Universal Basic Income (UBI) . In a nutshell, UBI is the idea that everyone should get enough money every month to cover their most basic needs, regardless of work done, other income, or any other factor. Many proposals set this […]

Full Post at cleantechnica.com

Thailand Prime Minister Srettha Thavisin has a simple but pricey solution to the country’s economic woes: Give everyone cash. Thailand has a simple plan to boost its pandemic-hit economy.

It will give $275 to about 50 million people, more than two-thirds of the population.

The prime minister said the program would cost $13.7 billion and stimulate a struggling economy. Thailand is the latest country to experiment with a cash handout program, hoping it will help its economy recover from a pandemic-induced slump.Prime Minister Srettha Thavisin said the program — called "Digital Wallet" — will offer payments of 10,000 baht, […]

Full Post at www.businessinsider.com