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Bad News About Universal Basic Public Income
A landmark study was just completed on UBI, and the results were not encouraging for similar programs.
“The Largest Study Ever on UBI Was Just Conducted — The Results Are Disappointing for Advocates,” revealed the Foundation for Economic Freedom on October 14, 2024. “What did people do with the extra time they got from working less? In short, the answer is, they relaxed.”
Universal Basic Income (UBI) is a policy proposal that advocates for giving every citizen a regular, unconditional sum of money from the government, regardless of their employment status or income. The concept aims to ensure a basic standard of living, allowing individuals to cover essential needs such as housing, food, and healthcare.
Proponents argue that UBI could reduce poverty by providing a safety net for everyone, especially those in low-wage jobs or facing unemployment. It could also reduce inequality and improve mental health by alleviating financial stress. UBI is seen as a potential solution to the challenges posed by automation, which threatens to replace many jobs in the coming years.
Critics, however, warn that UBI may be too expensive to implement on a large scale. They also question whether it would disincentivize work, leading to a less productive workforce.