UBI is going to happen and it is going to happen soon.
If it does, it’s premature. We won’t actually need something like that for a generation.
35% of the wealth in the US is owned by the top 1%
Which UBI won’t change in the least.
Real wages have been stagnant since 1975. They haven’t even budged with an unemployment rate of 3.9%
True. The culprits are as follows:
- Globalism (money, even wage money, always moves to where it’s used most efficiently. Chinese and Indian wages have risen somewhat, but there’s all of Africa still waiting to benefit.)
- Automation (Robots and web interfaces are cheaper than people, and there are still MANY business processes waiting to be automated.)
- The Information Revolution (In order to earn a middle class wage now, you need more cognitive ability — call it IQ if you like — and more education than in the past, including courses that are difficult for the average joe)
None of the above changes with UBI.
40% of US employees are working at a BS job that creates no economic value
Self driving cars will eliminate 4 million middle class, low training jobs by 2035.
Might not be a good idea.
Better start thinking about actual, new solutions. The old economic model is dead.
There is only one economic model that works. UBI doesn’t change that model. It just changes the nature of redistribution; whether it increases it’s level is doubtful.