I don't understand the optimism around UBI. UBI is a band-aid and a sign that a system is actually failing. I get why some people, especially intellectuals, want UBI, but they seem to believe that UBI is free of consequence. If society "needs" UBI, that means that not enough people can build wealth or that the welfare system isn't effective. Handing people money isn't going to change the fact that too much of the economy is bolstered by massive amounts of debt. UBI may just perpetuate the problem and encourage more debt to be taken out. One argument for UBI I've heard is that places like Alaska give their residents a "dividend" of something between a few hundred to a few thousand bucks. But the reason Alaska can do this is because they effectively own their oil industry, and their GDP far exceeds their debt, whereas the United States federal government(as well as many states) have debt that exceeds their GDP.
UBI will be needed when automation actually destroys enough jobs where it makes sense. I don't know that we're quite there yet, but it will happen soon. Wanting UBI before its time seems like an admission of failure oh the system.
UBI will be needed when automation actually destroys enough jobs where it makes sense. I don't know that we're quite there yet, but it will happen soon. Wanting UBI before its time seems like an admission of failure oh the system.