MC.48: How $1,000 a Month For Nothing Changed Lives in Texas and Illinois?

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Hey everyone,

I just read about a UBI experiment in Texas and Illinois backed by Sam Altman. He has a global and long-term vision for our society and put his thoughts to work. I believe that some form of basic income will be necessary in a post-AI world, so take my findings with that angle in mind.

They gave 1,000 low-income folks $1,000 a month for 3 years. The researchers wanted to see how it would affect their work, income, and everyday lives.

Here's the summary:

• People worked about 1.3 hours less per week on average. That's like an extra week of vacation every year. Not bad!

• Total household income dropped by around $1,500 per year. But with the extra $12,000 annually from the UBI, they still came out ahead.

• The effects weren't the same for everyone. Folks over 30 and those without kids didn't change their work habits much. It was mainly young adults and single parents who worked less.

• The lowest income people reduced their work the least, killing the idea that poor people are lazy.

• There was a boost in entrepreneurship, especially for Black recipients (26% increase!) and women (15% increase). Cool to see people taking risks and starting businesses.

• People were more likely to look for meaningful, interesting work. They didn't just want any job - they wanted good jobs they enjoyed.

What I find fascinating is how this challenges a lot of assumptions. It's not just "give people money and they'll stop working." The reality is way more nuanced.

Sure, some worked a bit less. But they had more time for family, education, and better jobs. And for many, especially those struggling the most, it gave them a chance to improve their situation without dropping out of the workforce.

Overall I feel it provides the flexibility needed in a world where AI might displace or replace many jobs.

It's not a perfect solution, and there's still a lot to figure out. But I think it shows that UBI could have real benefits without causing society to collapse like some predict.

What do you all think? Does this change how you view UBI at all? I'm super curious to hear your thoughts!

Cheers,

Sam

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