“The reason Donald Trump is our President today is that we automated away 4 million manufacturing jobs”, that’s what U.S. Presidential candidate Andrew Yang said at the Democratic debates, his plan for the economy may surprise you.
What Andrew Yang and the famous board game “Monopoly” have in common? They both have a Universal Basic Income, a regular check that everyone gets every once in a while, many economists believe that is the missing piece from our economy.
Monopoly teaches us that no matters how much your job makes you, or have many assets you have, a universal check is always necessary for a variety of reasons:
Even if you make a lot of money, stress will always lower your lifespan and damage your well-being, studies are showing that a Universal Basic Income would reduce that work-related stress.
Even if there are infinite opportunities, without a the consuming power that a Universal Basic Income offers, poverty will always exist.
The opponents of universal basic income suggest something called job guarantee, or “the right to work”. Here’s why universal basic income is the way to go.
As 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, as new report from a consultancy has found.
A job guarantee will result to many useless job positions that will only be good for its low unemployment numbers, while these jobs are totally useless.
Instead of job guarantee, a universal basic income would provide people with the basic resources to choose the right job for them, or even start their own business.
Another argument of those who suggest a job guarantee is “how do we pay for universal basic income?”, and the short answer to this is really simple, by replacing the current expensive and inefficient welfare system. The long answer includes the economic benefits from UBI itself and the reduction of homelessness services and hospital visits.
Several projects are testing the idea of doling out funds that people can use however they want while many politicians and businessmen like Elon Musk and Mark Zuckerberg are supporting the idea already.
Self-driving cars will replace the most popular job in the United States, truck drivers, a universal basic income seems to be the only objective solution to that.
Andrew Yang is running for President in 2020 on a Universal Basic Income platform. “It all begins with a Universal Basic Income for all American adults, no strings attached.”, he writes on his website.