Freakonomics Radio 242. Is the World Ready for a Guaranteed Basic Income?
Apr 14, 2016
Exploring the impact of technology on job markets and proposing a guaranteed basic income as a solution. Discussing experiments in Canada and the U.S., viability of a basic income system, Y Combinator's research project, and the transition from workers to companions in a technologically advanced world.
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Challenge of Low-Paying Jobs
- Many full-time jobs today do not pay a living wage and risk disappearing due to technology.
- A guaranteed basic income may address low wages and job losses simultaneously.
Technology Disrupting Jobs
- Advances in technology will automate mental tasks, disrupting jobs similar to the Industrial Revolution.
- Driverless cars could replace millions of driving jobs, highlighting wide job displacement potential.
UBI's Broad Theoretical Appeal
- Universal basic income (UBI) has historical support from economists and politicians across ideologies.
- UBI could be both a permanent financial safety net and a way to simplify welfare programs.