Universal basic income .
There will come a time when millions of people round the world will have to be content with receiving money from their states and or governments as a result of mass automation and deployment of bots and AI . That time has already come in Stockton California .
Starting in August 2018 , they will hand out $500 pm as a trial to see what happens . Stockton is not far from Silicon Valley and yet the town is broke , yup bankrupt .
The money is funded privately and the payments will come to a stop at some point unless the government continues to pay . I cannot see the United States taking on any more debt as it is already in crippling debt .
What is UBI ?
Simply put it’s an income that is paid in equal amounts to all citizens . The world has never seen this and what are some of the effects on the following :
- social impact , the impact of masses that are unemployed.
- longevity , health.
- sense of importance and self worth if not having a feeling of contributing and or working .
- impact on children for motivation to study and improve .
These are just some of the potential issues that UBI can cause however it can also be a positive thing , UBI is replacing lost income and people can continue living their lives and contribute to society in a much more meaningful way than by just working .
UBI is now the subject of global discussion as we face mass global automation and job losses as AI , robotsctake over . Ask anyone who works at Amazon In Texas , it’s a machine town .
Either way UBI will be a part of normal life within 10 years or less .
What are your thoughts ? Is UBI the way forward ?