Why Elon Musk Thinks Universal Basic Income Is Inevitable
Elon Musk shared his thoughts on the future of jobs and the government's role in a rapidly changing society.
Jobs were a big topic in the 2016 Presidential election in the United States and continues to be a hot-button issue. The loss of manufacturing jobs in the Rust Belt states was largely responsible for propelling Donald Trump to a surprise win. As President-elect, Trump has continued to push the jobs message, making deals like his recent involvement in the fate of Indiana’s Carrier plant to show that he will bring jobs back to regions with great job loss. Yet, regardless of such efforts, many futurists are predicting that a large amount of our jobs will be replaced by automation and robots within a very foreseeable future. Professor Moshe Vardi projected recently that more than half of the workers in the world will be replaced by robots in just 30 years from now. This is in line with a 2013 Oxford University study that put the future number of robot-replaced jobs in America at 47%.
What to do about this looming threat? One obvious solution would be re-educating the labor force, finding a way for it to work with the automation and artificial intelligence that will become ubiquitous. Still there is a strong likelihood that the inequality of wealth distribution will continue to grow around the world, and large parts of the labor force will be simply unable to find meaningful employment.
Elon Musk waded into this discussion recently by suggesting that a different economic system would have to be in place.
"There is a pretty good chance we end up with a universal basic income, or something like that, due to automation," Musk told CNBC in an interview. "Yeah, I am not sure what else one would do. I think that is what would happen."
The idea of universal basic income (UBI) is that the government would provide citizens with a minimum amount of money to live on. Proposals for UBI are being considered in Switzerland, Finland and the Netherlands, while Canada is instituting a pilot program in 2017 to provide supplemental income to keep people above poverty level in the province of Ontario.
While it will dramatically change our lives, Musk doesn’t see automation as an inherent evil, however. It’s just an inevitable transformation in society.
"People will have time to do other things, more complex things, more interesting things," said Musk. "Certainly more leisure time. And then we gotta figure how we integrate with a world and future with a vast AI."
Will Universal Basic Income come to the United States? It’s hard to believe that now when even discussions around increasing minimum wage, which has not kept up with inflation, get bogged down in inaction due to partisan bickering in Congress. But the reality of more than half the population having no work will likely prompt many changes we cannot yet anticipate or feel comfortable with. It’s important to start the discussion now, before being confronted with more and more people who are out of the labor force because there are simply not enough jobs they can perform.
Cover photo: CEO and chief designer of SpaceX Elon Musk speaks at the 2014 annual conference of the Export-Import Bank (EXIM) April 25, 2014 in Washington, DC. (Photo by Alex Wong/Getty Images)
What can 3D printing do for medicine? The "sky is the limit," says Northwell Health researcher Dr. Todd Goldstein.
- Medical professionals are currently using 3D printers to create prosthetics and patient-specific organ models that doctors can use to prepare for surgery.
- Eventually, scientists hope to print patient-specific organs that can be transplanted safely into the human body.
- Northwell Health, New York State's largest health care provider, is pioneering 3D printing in medicine in three key ways.
Elon Musk took issue with recent ideas for space exploration from Jeff Bezos.
- Elon Musk and Jeff Bezos have sparred over space exploration previously.
- Musk wants to focus on Mars while Bezos has the moon and space colonies as goals.
- In a recent tweet, Musk called out Bezos's plans for space colonies as unrealistic.
If you don't want to know anything about your death, consider this your spoiler warning.
- For centuries cultures have personified death to give this terrifying mystery a familiar face.
- Modern science has demystified death by divulging its biological processes, yet many questions remain.
- Studying death is not meant to be a morbid reminder of a cruel fate, but a way to improve the lives of the living.
- Push Past Negative Self-Talk: Give Yourself the Proper Fuel to Attack the World, with David Goggins, Former NAVY SealIf you've ever spent 5 minutes trying to meditate, you know something most people don't realize: that our minds are filled, much of the time, with negative nonsense. Messaging from TV, from the news, from advertising, and from difficult daily interactions pulls us mentally in every direction, insisting that we focus on or worry about this or that. To start from a place of strength and stability, you need to quiet your mind and gain control. For former NAVY Seal David Goggins, this begins with recognizing all the negative self-messaging and committing to quieting the mind. It continues with replacing the negative thoughts with positive ones.
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