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|Subject: eBay founder is testing giving people free money Tue Feb 14, 2017 9:09 pm|| |
|Support for Universal Basic Income has increased considerably in the past few years, sparked by stark changes in the labor landscape. The idea is simple, and it solves the question of how you’d earn money if machines are handling much of the labor load. Everybody receives a check, like Social Security, to supplement income.|
There has never been any test of how well UBI works on a large scale, because of cost. And without data, the utility and best applications of UBI remain unclear.
To that end, on Tuesday, Omidyar Network, a “philanthropic investment firm” started by eBay (EBAY) founder Pierre Omidyar, announced an investment of up to $493,000 in GiveDirectly, a charity that facilitates cash transfers to poor people around the world.
GiveDirectly has set up a trial in Kenya to give 6,000 people enough money to avoid poverty for a decade to see what happens. (This money puts the Kenya project closer to its goal of being fully funded.)
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