The results of OpenAI CEO Sam Altman’s guaranteed-basic-income study have been released. The study provided low-income participants with $1,000 a month for three years, with no restrictions. The study found that overall spending increased, with most of the extra cash going towards food and rent. Recipients experienced decreased financial stress initially, but this effect faded over time. The study also assessed the impact on healthcare, education, and employment. While there were no direct improvements in physical and mental health, recipients showed slight increases in dental care and healthcare spending. Employment rates fell among recipients in the second and third years of the program. Overall, the study highlights the potential financial impact of a basic income but also underscores the need for additional support and investments in social services.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Results of Sam Altman’s basic-income study | Increase in basic income programs | Widespread adoption of guaranteed basic income programs | Desire for equality and preparation for AI change |
| Recipients spent extra cash on food and rent | Shift in spending habits | Increase in basic needs spending by low-income individuals | Financial necessity and prioritizing essentials |
| Decreased financial stress over time | Temporary relief from stress | Long-term financial stability for low-income individuals | Access to basic income and reduced financial burden |
| No direct evidence of improved health | Recognition of limits of cash | Integration of basic income with other social services | Need for comprehensive healthcare support |
| Experiment raised funds for the study | Funding basic-income research | Increased funding and support for basic-income studies | Belief in importance of basic income |
| Rise of basic income in political discourse | Increased attention and support | Social and political acceptance of basic income policies | Technological automation and economic inequality |
| Altman considers a universal basic compute | Exploration of alternative models | Development of alternative income models | Advancement of AI and technological resources |
| Political hurdles for basic income programs | Resistance to social programs | Overcoming political barriers to implement basic income | Socio-political ideologies and opposition |