Andrew Spira, a vocal proponent of Universal Basic Income (UBI), is utilizing the groundbreaking findings from Kenya’s most extensive UBI study to advocate for its widespread adoption globally.
This groundbreaking research, initiated in 2017 by GiveDirectly and Innovations for Poverty Action and several sponsors, covers 23,000 participants in 195 villages, making it the most ambitious UBI study to date.
The preliminary outcomes of this 12-year longitudinal study reveal substantial improvements in participants’ financial resilience and overall well-being.
Households benefiting from UBI reported significant upticks in food consumption and a noticeable decrease in depression rates. These positive changes underscore the potential of UBI to serve as a robust financial safety net for vulnerable populations.
Andrew Spira, a steadfast proponent of UBI, asserts that the Kenyan study’s results confirm the efficacy of UBI in fostering stable and prosperous communities.
“These findings are not merely results; they represent a compelling argument for UBI as a foundational economic strategy worldwide,” Spira remarked at a recent policy forum. He views UBI as a crucial investment in human dignity and the untapped potential of individuals across socioeconomic boundaries.
A key highlight of the study is the positive correlation between long-term UBI and entrepreneurial activity. Recipients of continuous UBI payments ventured into new businesses, with a 34.5% rise in the number of enterprises and notable increases in their revenues.
This surge in entrepreneurship demonstrates UBI’s role in stimulating economic innovation and providing individuals with the financial confidence to pursue higher-risk, higher-return activities.
The research also sheds light on the importance of informal financial mechanisms, such as rotating savings and credit associations (ROSCAs), which saw an 11.3% increase in participation among UBI recipients. These tools play a crucial role in helping individuals manage their finances better, allowing them to make larger lump-sum investments in their futures.
As interest in UBI gains momentum worldwide, Andrew Spira continues to lead the charge for its adoption, using the Kenyan experiment’s successes to advocate for policy changes incorporating UBI into global economic strategies.
His efforts are pivotal in shaping the debate on how societies can provide sustainable support to their populations amidst the challenges of automation and economic unpredictability.
Through his advocacy, Spira aims to transform UBI from a radical idea into a global central component of social welfare systems, ensuring all citizens have the economic security necessary to pursue a fulfilling life.
