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9mo ago

Sam Altman's Universal Basic Income Experiment Reveals Mixed Outcomes

Largest U.S. study on unconditional cash transfers shows benefits in autonomy and spending but limited health improvements.

Stock photo of new US $100 bills. A financial planner is going viral for sharing the advice he recently provided to an elderly woman related to how she might handle setting up her estate.
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The groups, all made up of people ages 21 to 40, were drawn from rural, suburban and urban counties in Illinois and Texas with average annual household incomes of about $30,000, creating a representative sample of young low-income Americans.
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Overview

  • Recipients spent more on essentials like food, rent, and transportation.
  • Increased leisure time led to slight reductions in working hours.
  • Healthcare utilization rose, but significant health improvements were absent.
  • Participants felt more empowered to make selective employment choices.
  • Overall financial positions saw minimal long-term enhancement.