Sam Altman, the CEO of OpenAI, has financed the largest basic income study in the United States to date through his nonprofit organization, OpenResearch. The study involved 3,000 participants aged 21 to 40 from Texas and Illinois, all earning less than $30,000 annually. Of these, one-third received $1,000 monthly for three years, while the control group received a minimal amount of $50.
The findings indicated that participants who received the larger payments had greater freedom to seek jobs that were more aligned with their values and aspirations. The study’s authors noted, “Cash can increase people’s agency to make employment decisions that align with their individual circumstances, goals, and values.” Consequently, these recipients reported being more selective in their job searches.
One participant shared how the cash transfers enabled them to be discerning in their job choices, stating, “I don’t have to take a crappy job just because I need income right now. I have the opportunity to hold out and try and find the right fit.” Another recipient mentioned that the financial support allowed them to pursue a lower-paid position in a field they were passionate about, which eventually led to a lucrative six-figure salary.
Interestingly, the study revealed no significant difference in overall employment rates between the recipients and the control group. The larger payments primarily helped recipients cover essential expenses, such as food, housing, and transportation, and even facilitated health-related needs like braces and treatment for alcoholism. While the payments alleviated stress initially, many health benefits diminished after two years.
Sam Altman has been a vocal advocate for universal basic income, especially as advancements in AI reshape the labor market and potentially displace jobs.
In summary, this groundbreaking study underscores the potential of unconditional cash payments to enhance personal and economic agency, particularly in uncertain economic conditions. The ability to make more thoughtful employment choices could lead to a more fulfilling work landscape as people are empowered to pursue careers that resonate with their passions and life goals. A hopeful outlook suggests that such initiatives can inspire broader conversations about the intersection of technology, economics, and social welfare, potentially paving the way for innovative solutions in the future.