In Canada, the Foundation for Social Change and the University of British Columbia selected 50 recently homeless for the New Lead Project. That pilot played out a version of Universal Basic Income - or giving stipends, string-free. Those 50 did not have substance abuse or mental illness issues.
The results, reports BusinessInsider, proved out how UBI can set the despairing on a fresh path. Simultaneously, it can save the public significant funds.
Each of the 50 was given $7,500, with no directives how it had to be spent. Also, some job training was available.
To those who decry the "free money" platform of UBI, those receiving the stipend did not rush out and squander the money. Most immediately secured housing. Collectively, that saved the shelter system $405,000 on an annual basis. Essential items such as food was bought, not "sin" ones such as alcohol. Some enrolled in training such as updating their computer skills so that they could look for jobs. And there were those who managed to save about $1,000 out of the original $7,500.
Other versions of UBI are being tried out around the world. As a result of COVID-19, Spain tried out UBI. It was the first country in Europe to do that.
There also has been an experiment in Stockton, California which has been extended, reports Bloomberg.
If jobs keep disappearing those who would have entered the workforce could be given the option of UBI. That will enable them to pursue non-paid kinds of ventures such art, volunteer work, travel or continue with education opportunities that are offered free in communities.
Simultaneously, the aging who who are caught between not being able to land a job and being too young for Social Security could also be awarded a version of UBI.
Because of COVID-19, more and more of the over-45 are being forced into an early retirement they simply can't afford. Forbes documents how ageism is hitting that demographic hard. If they do land work it could be a minimum wage one or a temporary whatever in the gig economy.
Overall, just the reduction in the nation's mental illness bill and for crime could make UBI almost a "profit center" for federal and state governments.
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