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From those that are debating if AI will take any or all human jobs, to Elon Musk talking about universal basic income. Come to find out, a recent study from the National Bureau of Economic Research, involving 1,000 low-income individuals receiving $1,000 monthly for three years, provides valuable insights into the broader implications of a policy like this…
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1. Labor Market Participation , % and a decrease in weekly work hours.
2. Time Redistribution: , with minimal investment in activities like job search or skill enhancement.
3. No Significant Change was observed in job quality or entrepreneurial ventures, indicating that increased financial security did not translate into better employment outcomes. …
4. Extended Unemployment Durations were noted, as participants , or secure higher-quality positions.
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As policymakers and advocates consider the future of “poverty alleviation programs”, these findings underscore the complexities of universal basic income. While they may offer immediate financial relief, the long-term impact on work incentives and economic productivity remains nuanced and multifaceted. To me it seems, like a very human response. I mean if I was paid money to just be, then there is less reason to try. Think of any story with a person who is just given money and one without. Who has more grit, and determination… Those without, and strive for more.
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This study opens the door for deeper conversations. Maybe we should look at the current job market and fix the apparent issues with the 3-5 years of experience for those coming out of college. The classic approach of how we can design programs that balance financial support with fostering sustainable economic growth. AI/GenAI are not going anywhere, yet with the future looking more AI-Automation. ℎ , , , , ℎ . .
#resume #jobs #income #ai #reseach #genai
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