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Thread: UBI failed and everyone is pretending it didn't

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    UBI failed and everyone is pretending it didn't

    UBI Failed and Everyone Is Pretending It Didn't
    https://www.youtube.com/watch?v=oyoMgGiWgJQ
    {Pete Judo | 20 September 2024}

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    From the pinned comment:

    Lots of good discussion in the comments, I know this topic by nature is a little controversial. Thank you for the enthusiasm, everyone!

    Just wanted to address a few common themes:

    1. Yes, Milton Friedman's idea for a negative income tax works quite differently to this form of monthly income UBI. Should have made that clearer in the video. Let me know if you want a follow-up video on that.

    2. Some people are saying that it's fine to be poorer if they're happier. The study did measure this and people were NOT happier in the long run. Happiness increased from year 1, but disappeared by year 3. People simply habituated to the higher income. https://openresearch-web.files.svdcd...ion/w32784.pdf

    3. Some people are saying that working less and spending more on leisure should improve physical and mental health. The study also measured this and found no improvements, not even a small improvement in physical health. Mental health was boosted in year 1 (as you would expect) but disappeared by year 2. Again, people just habituated to the money. https://openresearch-web.files.svdcd...ion/w32711.pdf

    4. And finally, yes, a true UBI study can never be done unless you truly give everyone in the country the money, which yes, will have a greater impact on things like inflation. Valid point.

    So in summary, this study showed that UBI (in the form of $1000 per month) makes Americans poorer ($1000 on average), with no long-term improvements in happiness, physical health, mental health or financial stability.
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    Free money would make me less happy and more poor?

    I'm willing to take that risk.
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    Isn't this the same guy that covered the accademic fraud at Harvard?
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  6. #5
    Quote Originally Posted by jmdrake View Post
    Isn't this the same guy that covered the accademic fraud at Harvard?
    Yes, it is.



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