Sam Altman, the CEO of OpenAI, has taken a significant step in advancing economic security by funding the largest basic income study in the United States to date. His nonprofit organization, OpenResearch, collaborated with researchers to provide unconditional cash payments to individuals living below the poverty line over a period of three years.
The study involved approximately 3,000 participants, aged between 21 and 40, from Texas and Illinois, all of whom earned less than $30,000 annually. Of these participants, one-third received $1,000 per month, while the rest received only $50 as part of a control group.
Findings from the study revealed that those receiving the larger payments experienced greater flexibility in seeking employment aligned with their interests. The study’s authors stated, “Cash can increase people’s agency to make employment decisions that align with their individual circumstances, goals, and values. Recipients were more likely to be searching for a job, but they were more selective.”
One participant highlighted the benefits, stating that the cash transfer allowed them to build savings, giving them the ability to be more discerning about job opportunities. They expressed relief in not having to accept subpar positions out of immediate financial need. Another participant shared how they took a lower-paying entry-level job in a desired field, which ultimately led to a six-figure salary within two years—a move they credited to the financial cushion provided by the cash transfers.
Interestingly, the study noted no significant differences in overall employment levels between the recipients and the control group. Recipients primarily increased their spending on essential needs such as food, housing, and transportation, while some used the funds to address health-related needs like braces or addiction treatment. Although the payments initially alleviated stress, many of the health benefits diminished after two years.
Altman’s support for universal basic income comes at a crucial time, as advances in artificial intelligence continue to reshape the labor landscape, potentially displacing certain job categories.
In a world increasingly influenced by technology, this study underscores the vital role that financial support can play in empowering individuals to pursue fulfilling employment, thereby enhancing both their personal and economic well-being. It presents a hopeful outlook on how targeted economic interventions can lead to meaningful changes in people’s lives.
Overall, this research not only contributes valuable insights to the ongoing conversation regarding universal basic income but also highlights the importance of investing in people’s futures as society adapts to an evolving job market.