Systems like Socialism lacks innovation, competition the other benefits that Capitalism provides, but Capitalism leaves an open hole in the floor which results to poverty for those who can’t compete, a Universal Basic Income can patch that hole in the floor.
During his commencement speech at Harvard University, Facebook CEO Mark Zuckerberg explained why a universal basic income should be introduced as a solution for inequality.
“Every generation expands its definition of equality. Now it’s time for our generation to define a new social contract”, Mark said, “We should have a society that measures progress not by economic metrics like GDP but by how many of us have a role we find meaningful.”
Zuckerberg told the class of 2017 that he was able to pursue his passion in Facebook because he knew he had a safety net to fall back on. “If I had to support my family growing up instead of having time to code,” he said. ” I wouldn’t be standing here today.”, “We should explore ideas like universal basic income to give everyone a cushion to try new things,” Mark also said during his speech.
Mr. Zuckerberg is not the only one to call for a universal basic income, Tesla and Space X CEO Elon Musk has also promoted the idea at the World Government Summit 2017 in Dubai. Elon Musk said that a Universal Basic Income is “going to be necessary.”
As a new report from a consultancy has found, automation will replace up to 80 of today’s jobs by 2030, up to 800 million global workers will lose their jobs by that time and be replaced.
A universal basic income would also be the solution to finally and actually have human rights, such a the right to health and survival.
Andrew Yang is running for President in 2020 and has already promised a universal basic income to get introduced by the time he gets elected.
“Yang, as an American entrepreneur and the Founder of Venture for America, is in a position to know well what the economy and people need, according to him, that’s a universal basic income.”
Welfare can be replaced all-together by a universal basic income system, welfare results to dependence and even more poverty, instead, a universal basic income has a nature of generality and it’s more like a human right than”help” for the poor people.
Automation can generate enough wealth for everyone’s basic needs, people can benefit from that wealth by receiving a universal basic income (UBI), a flat and guaranteed paycheck to every citizen.
UBI can be that economic “floor” in Capitalism, a layer of economic security and opportunity for everyone to try, invest, start his own business and even get more education.