Future Tense

Nobel-Prize laureate Abhijit Banerjee on the world's largest UBI experiment

38 snips
Apr 11, 2024
Nobel-Prize winning economist Abhijit Banerjee discusses the world's largest UBI trial in Kenya. They touch on topics such as the impact of different UBI payment methods, digital device addiction, and the shift from traditional values to new virtues in society.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
ANECDOTE

Lump Sum Spurs Business Starts

  • The lump-sum group received one upfront payment roughly equal to two years of monthly grants and reacted differently.
  • They started the most businesses, likely because they needed to make the money last or grow it quickly.
INSIGHT

Expectations Drive Investment

  • Identical cash flows produced different choices when expectations differed about future payments.
  • Long-term recipients started new businesses while short-term recipients consolidated existing assets.
INSIGHT

UBI Didn’t Reduce Work

  • Early results show recipients did not reduce work hours; if anything, hours worked rose slightly.
  • There is no evidence people used payments to simply stop working or 'take a vacation'.
Get the Snipd Podcast app to discover more snips from this episode
Get the app