[leorocky]

I think the way out of this is a basic income guarantee. When a basic income is provided without requiring labor and this basic income meets the needs of an individual the cost of human labor will increase (the cost of everything will increase probably). This system assumes there is enough wealth around for the government to distribute enough to everyone.

This is Paul Krugman's take on it:

http://www.nytimes.com/2013/06/14/opinion/krugman-sympathy-f...

[Kiro]

>  the cost of human labor will increase (the cost of everything will increase probably)

How does that solve anything? Sounds like a pretty bad side-effect or is that really an objective with basic income?

[lmm]

Increasing the cost of human labour is an objective; it should encourage more automation and shorter working hours (which are probably more productive anyway, but people are irrational). And hopefully it will reduce the gap between good and bad jobs, giving people more choice of how they want to work.

Increasing the cost of everything is an unfortunate side-effect that will hopefully not be very big.

[Kiro]

Makes sense. Thanks!