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“Cash provides increased flexibility to support others. Recipients of the cash transfers also provided significantly more financial support to others. As a percentage of the average spending for control participants, we find the greatest increase on support to others. Spending on others increased by an average of $22 per month—a 26% increase relative to control participants. This measure captures spending on gifts to friends and family, loans to others, donations to charity, and alimony payments. The visualization below shows the impact of the cash transfers on monthly spending across categories as a percentage of the average spending among control participants.” Bar graph shows help to others is the biggest spending increase

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“Cash provides increased flexibility to support others. Recipients of the cash transfers also provided significantly more financial support to others. As a percentage of the average spending for control participants, we find the greatest increase on support to others. Spending on others increased by an average of $22 per month—a 26% increase relative to control participants. This measure captures spending on gifts to friends and family, loans to others, donations to charity, and alimony payments. The visualization below shows the impact of the cash transfers on monthly spending across categories as a percentage of the average spending among control participants.” Bar graph shows help to others is the biggest spending increase
https://xoxo-media.sfo2.cdn.digitaloceanspaces.com/media_attachments/files/112/840/540/831/762/356/original/0064a02a4f15c381.png

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Kevin Marks (kevinmarks@xoxo.zone)'s status on Wednesday, 24-Jul-2024 18:48:01 JST Kevin Marks

Reporting of the latest UBI test programme is ignoring the key finding, obvious to anyone who knows low income people, that their first impulse was to spread the wealth to others.
This thinking is so alien to economists and financial types that they barely discuss it. https://www.openresearchlab.org/findings/key-findings-spending

In conversation about 6 months ago from xoxo.zone permalink