Bad News for Universal Basic Income

Reason magazine reported on a new working paper about the potential downsides to universal basic income (UBI) programs after studying the effects of a $1,000/month stipend over three years. The article quotes Prof. Damon Jones comment on X. 

So, free time is good [and] guaranteed income recipients use some of the money to free up time," argued Damon Jones, a professor at the University of Chicago's school of public policy, on X. "The results are bad if you want low-income people to be doing other things with their time, for example working.

Read the full article here: https://reason.com/2024/07/25/bad-news-for-universal-basic-income/