In-Short
- OpenResearch study highlights the transformative effects of UBI on health, spending, and employment.
- Recipients of an extra $1,000/month showed increased spending on basic needs and support for others.
- UBI led to greater personal agency, with more recipients pursuing education and starting businesses.
- Housing mobility improved, with UBI participants more likely to move and seek new housing.
Study Reveals UBI’s Transformative Impact
A recent study by OpenResearch has provided valuable insights into the potential impacts of universal basic income (UBI). The research, which involved giving participants an additional $1,000 per month, demonstrated significant changes in various aspects of their lives.
Healthcare and Spending Habits
Participants utilized more medical services, especially dental and specialist care, which could lead to long-term health benefits. The study also found that recipients increased their monthly spending by $310 on average, with a notable rise in financial support for others, indicating UBI’s community-wide effects.
Employment and Personal Agency
Although there was a slight dip in employment rates and work hours, UBI allowed individuals to make employment choices that better suited their personal goals. Additionally, recipients showed a 14% increase in pursuing education or job training and were more likely to budget and start businesses, particularly among Black participants in the third year of the program.
Housing Mobility
The study also highlighted that UBI recipients experienced an 11% increase in the likelihood of moving neighborhoods and a 23% increase in active searches for new housing, suggesting improved housing mobility.
The findings of this study offer a data-driven foundation for policymakers and researchers to consider when evaluating social welfare programs, especially in the context of potential AI-induced job displacement.
Further Reading
For more detailed insights and the full scope of the study’s findings, readers are encouraged to view the original source. Read the full article here.
Footnotes
Image credit: Photo by Freddie Collins on Unsplash
