“Universal Basic Income” is trendy, but studies show that it makes people work less, and save less.
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Conrad Shaw, Vice President of the “Income to Support All Foundation,” believes Universal Basic Income will help people start new businesses and invest in home improvements.
But a study backed by Sam Altman (creator of ChatGPT) tested that theory out. They handed 1,000 people, $1,000 for 3 years.
Some of the recipients did make good financial decisions.
But overall, the group ended up a little deeper in debt and had a lower net worth!
I’m not surprised. If you give people free money, they’ll work less. Incentives matter.
But even after this study, UBI proponents still believe a UBI is a good idea.
Is it? Our new video takes a look.
