๐ป๐๐ ๐ฌ๐๐๐๐๐ ๐๐ ๐ฎ๐๐๐๐๐๐๐๐๐ ๐ฐ๐๐๐๐๐: ๐ฐ๐๐๐๐๐๐๐ ๐๐๐๐ ๐ ๐น๐๐๐๐๐ ๐บ๐๐๐ ๐
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 thisโฆ
โช๏ธ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ:
1. Labor Market Participation ๐๐ฎ๐ ๐ฎ ๐บ๐ผ๐ฑ๐ฒ๐ฟ๐ฎ๐๐ฒ ๐ฑ๐ฒ๐ฐ๐น๐ถ๐ป๐ฒ, ๐๐ถ๐๐ต ๐ฎ ๐ฎ% ๐ฟ๐ฒ๐ฑ๐๐ฐ๐๐ถ๐ผ๐ป ๐ถ๐ป ๐ฝ๐ฎ๐ฟ๐๐ถ๐ฐ๐ถ๐ฝ๐ฎ๐๐ถ๐ผ๐ป and a decrease in weekly work hours.
2. Time Redistribution: ๐ฃ๐ฎ๐ฟ๐๐ถ๐ฐ๐ถ๐ฝ๐ฎ๐ป๐๐ ๐น๐ฎ๐ฟ๐ด๐ฒ๐น๐ ๐๐ฝ๐ฒ๐ป๐ ๐๐ต๐ฒ๐ถ๐ฟ ๐๐ถ๐บ๐ฒ ๐ผ๐ป ๐น๐ฒ๐ถ๐๐๐ฟ๐ฒ, 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. ๐ป๐๐๐ ๐๐๐ ๐๐๐๐๐๐
๐๐๐๐๐๐๐๐๐๐๐โฆ
4. Extended Unemployment Durations were noted, as participants ๐๐ฝ๐ฒ๐ป๐ ๐บ๐ผ๐ฟ๐ฒ ๐๐ถ๐บ๐ฒ ๐๐ถ๐๐ต๐ผ๐๐ ๐๐ผ๐ฟ๐ธ, ๐๐ฒ๐ ๐ฑ๐ถ๐ฑ ๐ป๐ผ๐ ๐ฎ๐ฝ๐ฝ๐น๐ ๐๐ผ ๐บ๐ผ๐ฟ๐ฒ ๐ท๐ผ๐ฏ๐ or secure higher-quality positions.
โช๏ธ๐๐ก๐ฒ ๐๐จ๐๐ฌ ๐๐ก๐ข๐ฌ ๐๐๐ญ๐ญ๐๐ซ?
As policymakers and advocates consider the future of โpoverty alleviation programsโ, 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 determinationโฆ Those without, and strive for more.
โช๏ธ ๐๐ก๐ ๐๐จ๐๐ ๐๐ก๐๐๐:
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. ๐ผ ๐กโ๐๐๐ ๐ค๐ ๐๐๐๐ ๐ ๐๐๐ค ๐ ๐ฆ๐ ๐ก๐๐, ๐๐๐๐๐๐ค๐๐๐, ๐๐ ๐ค๐๐ฆ ๐ก๐ ๐ก๐๐๐๐, ๐ ๐ข๐๐๐๐๐ก, ๐๐๐ ๐๐๐๐๐๐ ๐กโ๐ ๐๐๐ฅ๐ก ๐๐๐๐๐๐๐ก๐๐๐ ๐๐ ๐ค๐๐๐๐๐๐ . ๐ผ ๐๐ ๐ ๐ก๐๐๐ ๐๐๐๐๐๐๐ ๐ก๐๐ค๐๐๐๐ ๐บ๐ข๐๐๐๐ .
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