A Silicon Valley company will give thousands of people in two states cash handouts to branch out its universal basic income test, CNBC reported.
Y Combinator’s Basic Income Project will select people at random to compare how one group of 1,000, who receive $1,000 a month, behave compared with a second group of 2,000 who receive $50 a month.
The test will run for up to five years. The states involved were not identified.
Y Combinator’s president, Sam Altman, has been one of the Silicon Valley tech executives – along with billionaires including Mark Zuckerberg, Elon Musk and Richard Branson – to support the idea of a basic income regardless of employment status, CNBC reported.
The startup has already piloted a study of the effects of introducing a basic income in Oakland, Calif., CNBC reported.
“A randomized trial is considered one of the best ways to evaluate the impact of a proposed social policy,” Elizabeth Rhodes, research director for the project, said in a blog post.
“By comparing a group of people who receive a basic income to an otherwise identical group of people who do not, we can isolate and quantify the effects of a basic income.”
“We view this experiment as a strong foundation for a broad research agenda on basic income,” she added.
© 2017 Newsmax. All rights reserved.