Economics
Click on the markers below to reveal the interdisciplinary insights for economics.
If UBI in the US was set at $12,000 per adult and $6,000 per child with a 50% marginal tax rate, this would cost around $539 billion per year, or 25% of current US welfare spending. The average family making $27,000 a year would see a benefit of $9,000 over the status quo (Widerquist, 2017)
Countries that have used large fiscal stimulus have experienced stronger bursts of inflation. US stimulus during the COVID pandemic likely increased inflation by 2.5% over what it likely would have been without stimulus (De Soyres et al, 2022)
Evidence from low- and middle-income countries have shown that the regular provision of unconditional cash transfers leads to a noticeable decrease in poverty (Hagen-Zanker et al, 2011)
From low to high-income societies, unconditional cash transfers has had a minimal impact on labor market participation, with some studies even showing an increase. Often withdrawal from the labor market is redirected into useful activities such as caregiving (Bastagli, 2016)
There is a problematic research gap in the number of sustained UBI experiments, which would be the ‘gold standard’ for evidence, most are conditional cash transfers (Hasdell, 2020)
Political Science
Click on the markers below to reveal the interdisciplinary insights for political science.
The Finland’s Basic Income Experiment led to a small increase in employment; strong improvements in individually reported well-being, particularly mental health, which had a positive feedback on seeking work, training or volunteering; and increased trust in public institutions and other people (Allas, 2020)
It will be difficult to effectively phase in a UBI while also phasing out the old social welfare programs, very likely some vulnerable individuals and households will fall through the cracks and lose out (De Wispelare and Yemtsov, 2020)
In the Netherlands, trust in local government among welfare recipients grew among the groups that received welfare with less government control and more autonomy, this did not transfer to trust in national government (Betkó et al, 2022)
Health
Click on the markers below to reveal the interdisciplinary insights for health.
Across contexts, unconditional cash transfers lead to improvements in health status and reduce the behavioral and social factors that lead to the increased likelihood of disease, premature ill health, disability, and death (Pega et al, 2017)
Education
Click on the markers below to reveal the interdisciplinary insights for education.
Across countries, unconditional cash transfers have been shown to increase educational measures such as school enrollment and attendance, but the impact diminishes over time (Hoynes and Rothstein, 2019)
Module L Interdisciplinary Insights
Laura Aguado
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Transcript
Economics
Click on the markers below to reveal the interdisciplinary insights for economics.
If UBI in the US was set at $12,000 per adult and $6,000 per child with a 50% marginal tax rate, this would cost around $539 billion per year, or 25% of current US welfare spending. The average family making $27,000 a year would see a benefit of $9,000 over the status quo (Widerquist, 2017)
Countries that have used large fiscal stimulus have experienced stronger bursts of inflation. US stimulus during the COVID pandemic likely increased inflation by 2.5% over what it likely would have been without stimulus (De Soyres et al, 2022)
Evidence from low- and middle-income countries have shown that the regular provision of unconditional cash transfers leads to a noticeable decrease in poverty (Hagen-Zanker et al, 2011)
From low to high-income societies, unconditional cash transfers has had a minimal impact on labor market participation, with some studies even showing an increase. Often withdrawal from the labor market is redirected into useful activities such as caregiving (Bastagli, 2016)
There is a problematic research gap in the number of sustained UBI experiments, which would be the ‘gold standard’ for evidence, most are conditional cash transfers (Hasdell, 2020)
Political Science
Click on the markers below to reveal the interdisciplinary insights for political science.
The Finland’s Basic Income Experiment led to a small increase in employment; strong improvements in individually reported well-being, particularly mental health, which had a positive feedback on seeking work, training or volunteering; and increased trust in public institutions and other people (Allas, 2020)
It will be difficult to effectively phase in a UBI while also phasing out the old social welfare programs, very likely some vulnerable individuals and households will fall through the cracks and lose out (De Wispelare and Yemtsov, 2020)
In the Netherlands, trust in local government among welfare recipients grew among the groups that received welfare with less government control and more autonomy, this did not transfer to trust in national government (Betkó et al, 2022)
Health
Click on the markers below to reveal the interdisciplinary insights for health.
Across contexts, unconditional cash transfers lead to improvements in health status and reduce the behavioral and social factors that lead to the increased likelihood of disease, premature ill health, disability, and death (Pega et al, 2017)
Education
Click on the markers below to reveal the interdisciplinary insights for education.
Across countries, unconditional cash transfers have been shown to increase educational measures such as school enrollment and attendance, but the impact diminishes over time (Hoynes and Rothstein, 2019)