@[email protected] has movedMar 31

Many in Big Tech argue that the 'answer' to AI's social disruption is Universal Basic Income; but the Q. is: if that's the case how would you fund it?

For followers of Modern Monetary Theory, this may be the wrong Q. as the state *could* choose to create the money/credit to do so....

For mainstream economists the answer would need to be higher taxation....

But Big Tech only insist its not their profits that should be used to pay for UBI; so just more sociopathic economics, then!

#AI #UBI

Show threadRobert Pluim 🇪🇺Mar 31
@ChrisMayLA6 I like the idea of UBI, and in small scale tests it has shown good results. I worry about what would happen if it got implemented across a whole country, would prices just increase to compensate (plus there are people who miss the point, and want UBI to only go to the "deserving")
Show thread@[email protected] has movedMar 31

@rpluim

yes, the issue of its impact on pricing & more vernally inflation is a key issue.... otherwise it would leave the situation where we are (if it had to be topped up on a means tested basis)

Show threadRadio Jammor

@ChrisMayLA6 @rpluim I recommend a read by @scottsantens on this subject.

https://www.scottsantens.com/would-unconditional-universal-basic-income-cause-inflation-ubi/

Wouldn’t Unconditional Basic Income Just Cause Massive Inflation?

An answer to the response to the answer to the growing question of the 21st century By far, the most common concern in regards to my first article on Medium about the idea of an unconditional basic income [https://medium.com/working-life/why-should-we-support-the-idea-of-an-unconditional-basic-income-8a2680c73dd3] was that all prices would inevitably go

UBI Guide
Mar 31 at 12:39pmWeb
Show threadRobert Pluim 🇪🇺Mar 31
@radiojammor @ChrisMayLA6 @scottsantens
Thanks, that answers a few questions I had. Of course, given that one of the main effects of UBI would be to free significant portions of the population from *having* to have a job, and give more bargaining power to workers, those in charge will of course never allow it to be implemented.
Show thread@[email protected] has movedMar 31

@radiojammor @rpluim @scottsantens

Thanks for this; not sure I agree with all the points but the overall thrust of the combined elements is nicely assembled & a good statement of the position on inflation....