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This past weekend at LibertyCon , I debated Andrew Yang, a progressive candidate for the Democratic presidential nomination, about whether the U.S. should adopt a Universal Basic Income.
Yang believes there is need for a UBI because future technological progress will gradually destroy jobs for people with limited skills. This forecast has arisen for millenia, but it has consistently been wrong: Emperor Vespasian: The Roman historian Suetonius writes, of the Emperor Vespasian (69-79 AD), that someone came to him with a new, cheaper technology for transporting heavy columns to Rome. The emperor rewarded the inventor but quashed the device […]
Full Post at www.cato.org