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A universal basic income (UBI) is often presented as a public insurance against large-scale and potentially permanent technological unemployment. Many Silicon Valley leaders that believe in the transformative economic potential of artificial general intelligence have also voiced their support for UBI (e.g. Sam Altman, Elon Musk). UBI can be a part of the policy tools to address long-term technological unemployment.
A universal basic income (UBI) is often presented as a public insurance against large-scale and potentially permanent technological unemployment. Many Silicon Valley leaders that believe in and work on the transformative economic potential of artificial general intelligence (AGI) have also voiced their support for UBI: Sam Altman: “If we cannot find a new kind of work for billions of people, we’ll be faced with a new idle class.
A lot of the debate on long-term, structural technological unemployment can be summarized in three short statements: Concerns about the speed or scope of labor substitution have often been premature or exaggerated in the past. Labor substitution has been very positive for humanity so far. As many old tasks have been automated, human labor has moved into many new, previously non-existing tasks.
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