A non-profit organization has announced its plans to conduct a long-term study about the effects of Universal Basic Income. This economic model involves giving a minimum wage salary to people in exchange for nothing at all. Basically, these people will be given free money for existing in the world.
"Utopia for Realists" - v good book arguing for a universal basic income: https://t.co/fO0zPc9PXo (Although, I am still not sure...)
— Tim Harford (@TimHarford) April 28, 2016
The non-profit organization -- called GiveDirectly --- will monitor how the Universal Basic Income will affect the lives of 6,000 people in Kenya, Upworthy reports. The comprehensive study will last for 10-15 years and the salary will depend on how much money GiveDirectly will be able to raise.
Universal Basic Income short-term experiments have already been tested in countries such as Canada, Finland, Germany and Namibia. "Contrary to popular assumptions, free money didn't turn people into lazy drunks," Upworthy explains.
I asked @SteveCase abt Universal Basic Income, he answered it may be necessary! #thethirdwavebook pic.twitter.com/UMifEJefwa — Ritu Sharma (@ritusharma1) April 28, 2016
These short-term studies have shown that most people who were given free basic salary invested more of their effort, time and money into education and business which improved their overall levels of happiness. GiveDirectly's plan for Kenya is the first time that Universal Basic Income will be tested for a long period of time.
But is there any possibility that the Universal Basic Income could be implemented on a national level in the future? "I'm fairly confident that at some point in the future, as technology continues to eliminate traditional jobs and massive new wealth gets created, we're going to see some version of this at a national scale," Sam Altman, president of Y Combinator, told The Verge. Y Combinator is also planning to do something similar to GiveDirectly's innovative plan.
