Here's why universal basic income will hurt the 99%, and make the 1% even richer.
- Universal basic income is a band-aid solution that will not solve wealth inequality, says Rushkoff.
- Funneling money to the 99% perpetuates their roles as consumers, pumping money straight back up to the 1% at the top of the pyramid.
- Rushkoff suggests universal basic assets instead, so that the people at the bottom of the pyramid can own some means of production and participate in the profits of mega-rich companies.
Human value is tied to the job market. Will automation be a full-on crisis?
- Andrew Yang is running for president in 2020 as a Democrat. In this video, he discusses the greatest challenge of our time: automation and human-centered capitalism.
- Currently, a person's value is linked to the economic value of their job. So the soon-to-be-extinct coal miner should find new purpose by becoming a software coder, right?
- That's shortsighted, says Yang. One day soon, even the best coders will be outpaced by AI. We need to prepare for the inevitable future by shifting how we fundamentally think about human value.
A guaranteed basic income is an old solution to a new problem of labor automation.
- Economist Robert Theobald coined the team 'basic living guarantee' in the 1960s.
- He believed that we were going to suffer problems because of an overabundance of resources.
- Philosopher Alan Watts spoke about the possibility of an economic utopia through a universal basic income.
Amazon has opened a new store in Seattle, one that may represent the future of what the retail giant is calling 'Just Walk Out' shopping.
Today is the big day. The first Amazon Go store has opened to the public in Seattle, and the future of shopping may change forever. While we all love the convenience of having the products of the world shipped right to our door, this store is Amazon's attempt to branch out and sell us those goods that we would rather pick up off the shelf like sandwiches, drinks, and cupcakes.
An MIT study predicts when artificial intelligence will take over for humans in different occupations.
While technology develops at exponential speed, transforming how we go about our everyday tasks and extending our lives, it also offers much to worry about. In particular, many top minds think that automation will cost humans their employment, with up to 47% of all jobs gone in the next 25 years. And chances are, this number could be even higher and the massive job loss will come earlier.
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