Back to the list A new universal basic income (UBI) experiment funded by tech billionaire Sam Altman has found people who receive free money generally tend to work less. In a study titled “The Employment Effects of Guaranteed Income: Experimental Evidence From Two U.S. States,” researchers gave 1,000 low-income individuals $1,000 per month unconditionally for three years.
Participants mostly spent the extra money on basic things like food, transportation or rent, and enjoyed a slight reduction in stress.
But the study found that participants on average worked about 15 minutes less per day, something that the researchers say policymakers should consider […]
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