With the increased automation and AI reducing the need for a workforce we either do something like this or have millions on the dole and all the wealth channeled to a tiny elite.
It was nice to see House Speaker Nancy Pelosi admit in an interview yesterday that it might be time to start looking into a minimum basic salary for the American people. Her weighing in at this time tells us we might be ready for a real debate.
I began a discussion last week into what Universal Basic Income (UBI) is and what it could look like in the United States. Again, while there are many variations of such a plan, for the sake of our discussion here, I’d like to stick with the Andrew Yang version, which purports to give every American citizen a $1,000 per month stipend beginning at age 18, regardless of income.
Would such a plan work in America? It depends. UBI would represent a fundamental reshaping of how we deal with income inequality and the social welfare state. It would be a radical shift, and the…
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