Cautionary Tales with Tim Harford When the Robots Take Over... - Cautionary Questions
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May 24, 2024 Jacob Goldstein, the witty host of "What's Your Problem?" and author of "Money: The True Story of a Made-Up Thing," joins Tim Harford for a captivating discussion. They explore whether winning the lottery truly brings happiness and delve into the economic implications of Bitcoin. The duo also tackles the future of work amid growing automation, considering Universal Basic Income as a possible solution. Plus, they reflect on the age-old conundrum of correlation versus causation, making complex topics both engaging and accessible.
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UBI as a solution to AI job displacement
- AI could replace jobs in a concerning way, making people nervous about the future of work.
- Universal Basic Income (UBI) is suggested as a potential solution to widespread job displacement.
Technological Unemployment
- Despite centuries of automation, humans have consistently found new jobs, even as machines took over old tasks.
- Current low unemployment rates support this observation, although this time could be different.
Non-financial aspects of work
- A potential challenge with UBI is addressing the non-financial aspects of work, such as purpose and mastery.
- Winning the lottery, while providing financial freedom, often doesn't lead to increased happiness, highlighting the importance of these non-monetary benefits.
