Job Automation And Universal Basic Income

Elon Musk thinks a universal basic income is inevitable. Musk doesn’t see plausible alternatives . I hope not. So here’s the optimistic scenario: On the one hand, manual and low skilled work will mostly get automated out of existence. So one could imagine why demand for people at lower skill levels and lower levels of cognitive ability could just evaporate. On the other hand, automation will cut costs and boost the wealth of those still employed. Even if the pay of manual laborers is low the goods a manual laborer will need to survive should become very cheap. So […]

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