2min chapter

Economics Explained cover image

The Economics of Automation: What Does Our Machine Future Look Like?

Economics Explained

CHAPTER

The Benefits of a Universal Basic Income

A universal basic income would allow people to live on less than their allowance. They could then invest the difference for a hope of returns in the future. But below that, almost everybody will still live lives with higher standards of living. This all sounds great, but let's say that a family wanted to get themselves a bigger house or just generally increase their well-being. Working jobs may be an option, but they are likely to be very hard to get into and possibly unrewarding financially.

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