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> Who knows what they will spend the extra money on, could be healthcare, boats, TVs, whatever. But new jobs will be created in these expanded industries. > It really, really bothers me the constant "x technology will drive x people out of work, therefore we need Universal Basic Income, so they won't starve!" This is incredibly fanciful look at the future. The population cannot grow AND lose jobs to machines. Disruption is having its own variant of Moore's Law, in that, we are disrupting more industries at a faster rate. UBI, or some form of which, will not only be necessary, but likely inevitable. The improvement of humanity you speak of is in fact a humanity that will survive on creativity, not labour. Labour is done. Additionally, capitalism doesn't care about "expanded industries" any more than Moore's Law cares about engineers who made their career in the 1980s. The transition is necessary, and it will be hard, and it won't happen without social security. It's a complete fantasy to see it happening any other way. |