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Finland Will Hand Out Free Cash To 2000 Jobless People In Universal Basic Income Experiment

Finland Will Hand Out Free Cash To 2000 Jobless People In Universal Basic Income Experiment

There’s been a lot of buzz this year about an old economic idea called universal basic income . It’s a guaranteed monthly check from the government for every citizen, no strings attached. Automation, gig jobs and the overall precariousness of work is driving interest in the idea, from Silicon Valley to the Netherlands. Finland launches a pilot program next month to test out the idea, but the country’s center right government is testing it as welfare reform, not as an anti-poverty tool.

Finland, population 5.5 million, is struggling with high unemployment, especially among the young. The jobless rate is more […]

The skills delusion

Everybody agrees that better education and improved skills, for as many people as possible, are crucial to increasing productivity and living standards, and to tackling rising inequality.

But what if everybody is wrong?

Most economists are certain that human capital is as important to productivity growth as physical capital.And to some degree, that is obviously true.Modern economies would not be possible without widespread literacy and numeracy: many emerging economies are held back by inadequate skills.But one striking feature of the modern economy is how few skilled people are needed to drive crucial areas of economic activity.Facebook has a market value of […]

Universal Basic Income: For Better And For Health

Universal Basic Income: For Better And For Health

Stress affects most people. In fact, young children get stressed too, even though the reason for why they feel that way is far simpler compared to adults. Typically, it’s just related to their play time being interrupted by something like the need to study, clean up, take a bath, eat or even sleep. For adults, it’s much more complex. Or is it really? When you think about it, the stress that most adults feel boils down to one thing: money. More specifically, the lack of it.

Generally, it’s the drive to meet basic needs like food, shelter and clothing that […]

Future of Manufacturing Production and Jobs

Future of Manufacturing Production and Jobs

(Photo: Provided by Ball State University) One benefit of the political debate about trade is that it led to an overdue discussion of manufacturing. But after more than a year of politicking, I’m afraid there’s still a great deal of confusion about the industry and its future. To help clear things up I’ll begin with a parlor trick. Pick the year you think manufacturing production peaked in the U.S. or Indiana. Some of you will say; 1928, 1945, 1975 and sometimes even 1999. The correct answer, of course, is 2015. Yes, inflation-adjusted manufacturing production peaked both in the U.S. […]

Southern rail dispute reflects workers’ growing fears about rise of automation

Southern rail dispute reflects workers’ growing fears about rise of automation

Trains with a guard become driver-only trains, which then become driverless trains. That’s the fear underlying Aslef’s dispute with Southern railways and accounts for the rearguard action to prevent further job losses across the rail industry.

It’s not the only reason for the dispute. There is also scorn for Southern’s management, which has attacked drivers’ basic terms and conditions, and there is anger at transport secretary Chris Grayling’s anti-union stance. But, at its heart, the dispute is over the status and even the very existence of the job of train driver, which has been around for nigh on 200 years.

Like […]

Automation Won’t Create New Jobs Like Technology Did In The Past

Automation Won't Create New Jobs Like Technology Did In The Past

(Photo by Jeff Spicer/Getty Images for Westfield) “Increased productivity leads to more wealth, cheaper goods, greater spending power and ultimately, more jobs ,” said the Wall Street Journal in the latest entry in the counterpoint to articles declaring the end of work.

This essentially is the problem with calls to put aside worry about automation. They sit on an assumption that, somehow, something will come along to save the day, even though no one has the slightest idea of what it might be. Call it the Magical Job Savior, the inexorable and unstoppable unforeseen something that increases the number of jobs even as technology eliminates them but somehow enables the rescue.

Full Post at www.forbes.com

CNN Host’s Attempt to Explain the U.S. Economy Was So Bad I Started Yelling at the TV

CNN Host's Attempt to Explain the U.S. Economy Was So Bad I Started Yelling at the TV

Young technician checking solar panels on factory roof Photo Credit: zstock/Shutterstock Honestly, I don’t usually talk back to the TV. But I couldn’t contain myself during Poppy Harlow’s December 10 interview with John Feltner, the United Steelworkers vice president of the Rexnord local union where 300 jobs are moving from Indianapolis to Mexico.

In discussing the move, Harlow twice resorted to the much repeated trope that the loss of American manufacturing jobs is really about automation and technology.

HARLOW: What is the number-one thing you would like to see the incoming administration do that you think will help people in […]

Research group recommends expansion of basic income experiment

Research group recommends expansion of basic income experiment

The research group working on the basic income experiment proposes its implementation in multiple stages. According to the group, this would be the most reliable way of learning more about the basic income. It would also enable the further development of study designs and provide the information needed to revamp the Finnish social security system to meet future needs.

The research group reviewing the basic income experiment submitted its final report to Pirkko Mattila, Minister of Social and Affairs and Health, on 16 December 2016. In its final report, the group no longer proposes a method of implementing the basic […]

Sheila Kennedy

Sheila Kennedy

The other day, I looked into a mirror and suddenly realized that my mother was looking back.

It sneaks up on you.

Most of us don’t notice the day-to-day changes in ourselves, or our environments, unless something triggers that recognition. That is especially true of the inexorable increase in automation–and it matters, because it is automation, far more than trade, that has eliminated so many American jobs. And that automation isn’t limited to spiffy robots on a factory floor; it is all around us.When I first started to drive, gas station attendants pumped my gas and cleaned my windshield. These days, […]

Why We Should be Talking About Universal Basic Income

Why We Should be Talking About Universal Basic Income

Imagine if the government gave every American adult $2,500 a month in real dollars (30K annually) for the rest of their lives – no strings attached. Seems crazy right?

Not so fast – this idea is known as Universal Basic Income (UBI). I believe UBI will be the solution to a myriad of economic problems we currently face. I have listed some things to consider when talking about UBI.

Benefits: Provides a social safety net for all Americans. This would eliminate homelessness and extreme poverty among the most vulnerable Americans.Addresses concerns from automation and technology significantly increasing structural unemployment. It […]