“Early findings from the world’s largest UBI study” by GiveDirectly

Summary of findings 2 years in: A monthly universal basic income (UBI) empowered recipients and did not create idleness. They invested, became more entrepreneurial, and earned more. The common concern of “laziness” never materialized, as recipients did not work less nor drink more.  Both a large lump sum and a long-term UBI proved highly effective. The lump sum enabled big investments and the guarantee of 12 years of UBI encouraged savings and risk-taking. A short-term UBI was the least impactful of the designs but still effective. On nearly all important economic measures, a 2-year-only UBI performed less well than giving cash as a large lump sum or guaranteeing a long-term UBI, despite each group having received roughly the same total amount of money at this point. However, it still had a positive impact on most measures. Governments should consider changing how they deliver cash aid. Short-term monthly payments [...] ---Outline:(02:37) A monthly UBI made people in poverty more productive, not less(03:57) Giving $500 as a lump sum improved economic outcomes more than giving it out over 24 months(06:27) The promise of a long-term UBI encouraged saving and investment(07:43) This research should inform how cash is given to people in extreme poverty(10:28) Study designThe original text contained 6 footnotes which were omitted from this narration. --- First published: December 6th, 2023 Source: https://forum.effectivealtruism.org/posts/DBx98atdYFM3yKR9C/early-findings-from-the-world-s-largest-ubi-study --- Narrated by TYPE III AUDIO.