It's too soon to decide on UBI
- Andy Parker
- Dec 10, 2018
- 1 min read
Updated: Jun 13, 2020
The notion of UBI (universal basic income has been quite popular lately. Regarding that, It's absolutely true that artifical intelligence (AI) may indeed replace human workers to a massive degree. In the last 25 years, many repetitive manual tasks have been replaced by robots. And now, we have the prospect for AI to replace repetitive tasks that involve thinking and focus. Truck drivers, for example, could be replaced by upgraded autopilot. And even case-researching junior lawyers could be supplanted. That said, for many years, human ingenuity has prevailed, surprising industries have been discovered and new roles have been needed. And in fact, repetitive work - be it by body or brain - isn't all that inspiring anyway. Maybe we're about to embark on a new age of human creativity. Who knows.
What we do know is that right now, unemployment is as low as it's been since the 1970s. So I'd say it's too soon to decide whether UBI makes sense. At the moment, it's just Welfare renamed.
It's true for minorities as well:
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