Category: Basic Income

Ahmedabad: Chief Economic Advisor Arvind Subramanian today said Universal Basic Income (UBI), as proposed in the recent Economic Survey, can be put in place only after withdrawal of the existing welfare projects.

"The cost of this programme (UBI) is so huge that it cannot be an add-on to the existing programmes (welfare schemes) as the government cannot afford it and the government’s finances will go bust," Subramanian said while addressing students of the Indian Institute of Management-Ahmedabad (IIM-A) here.

"In India, UBI scheme is about upliftment of the poor…The government spends a lot of money in social welfare schemes, but they […]

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A new survey has found that people are becoming more open to the idea of a basic, unconditional income, where all citizens get a monthly sum from the state. A Swiss referendum found locals were opposed to a basic income. But a recent survey suggests Germans are not. Source: DPA It’s been touted as the cure for everything from the futuristic ills of automation to the ever-increasing gap between rich and poor. Several European governments are giving it a try, albeit in small doses, and leading economists, along with political philosophers of all stripes, have presented it as a […]

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Pixabay Every week, Circulate HQ puts our top selection of articles, videos and more on the circular economy and related subjects into one beautiful Friday gift! This week, we’re sharing pieces from some of the biggest business and technology online publications, including focuses on the latest disruptions in manufacturing, money flows, energy and plastic.

The Economist reminds us that it is nearly 150 years since the first solar and wind technologies were invented, and while they currently generate only 7% of the world’s electricity, renewable energy is now growing faster than any other supply and seeing significant costs. Read […]

Full Post at circulatenews.org

Despite what Donald Trump says, America’s manufacturers are doing well right now.

Their success just hasn’t resulted in large number of high-paying jobs for Trump’s blue collar base.

Instead, the robots have taken over the factory.Eighty-five percent of manufacturing jobs were lost to technology from 2000-2010, not Chinese job thieves, the Center for Business and Economic Research at Ball State University estimates. And we can expect more automation, and not just on the shop floor. Last year the White House predicted 47 percent of existing jobs will eventually be eliminated by automation and artificial intelligence.While some of those displaced workers will […]

Full Post at www.cnbc.com

In stark contrast to the growing number of advocates in favor of universal basic income or UBI, business mogul Mark Cuban has said that adoption of such a policy would be the worst possible response to the impending job losses due to robots and artificial intelligence.

Cuban, a tech investor and owner of Dallas Mavericks, tweeted earlier this week that we need to prepare for the impending job losses as a result of robotic automation.

In response to his tweet, Scott Santens, an advocate of universal basic income, asked Cuban whether he agreed that UBI would be the best response. Cuban […]

Full Post at www.rttnews.com

-OpEd-

It’s hard to say no to the prospect of free money. Imagine: Regardless of your activity (or lack thereof), you get your share of the “universal income,” of the nation you call home. Several hundred dollars or more, paid every month into your bank account — not to compensate your labor or reward some accomplishment, but just because you exist. Around the world , implementing a universal basic income is an idea that has been gaining ground. And it’s easy to understand its appeal as inequalities continue to grow in developed and developing countries alike, with more than […]

Full Post at www.worldcrunch.com

f you listen to the experts, there’s one thing certain about the future of work: more jobs will be automated. Beyond that, the looming issue of mass unemployment has confounded the highest- profile thinkers and business leaders of our time. But as many public figures start to come around (or decide to pander) to the idea of a universal basic income, Mark Cuban has emerged to question the idea that a basic income would be good for the poor.

Cuban’s view comes from a series of tweets in response to a recent Medium article on the subject. The editorial summarizes […]

Full Post at www.topbuzz.com

Snapshot

The idea of a universal basic income (UBI) is one that many have been afraid to try out, with only Finland experimenting with the concept in recent months.

However, various tech bosses suggest that the concept may soon have to be applied in their industry, especially with the growth of artificial intelligence (AI).“There is going to be backlash when it comes to jobs,” says Sayantan Ghosal, an economics professor at the University of Glasgow speaking to CNBC .At the World Economic Forum in Davos, Marc Benioff, CEO of Salesforce, said that the speed of AI development could create “digital refugees”, […]

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