Is UBI A Bad Idea? A Dream Of The Ultra Wealthy

bitcoinflood in #hive-167922 • 15 days ago

UBI otherwise known as universal basic income has been talked about a lot as of late. UBI is being heavily talked about again because of the disruption that AI is suppose to do to many jobs. However It's been roughly three years now and I haven't seen it really take any jobs instead it's simply evolved jobs in which people that understand how to use the AI tools, Agents etc are the ones keeping their jobs as Agents etc still don't do things on autopilot.

The UBI is a basic income paid to all people and is suppose to allow people to at least have basic levels of lifestyle or at least help to level up their lifestyle. I wrote a very in depth article about it here if you'd like to check out the workings of UBI, when it was first talked about and if those tests were successful or not Would UBI Work?

Cycles

So far we know of two main cycles but there have been many over many generations. Those born in the early 1900's would have most likely seen two things happen. The evolution of machinery and mechanics that "replaced" jobs and then the computer evolution. It seems like these evolutions happen ever 50 years but seem to be happening a lot faster as AI is expected to be a major player by 2026 putting it just 30 years since the computer evolution cycle.

In all of these cases jobs where still held they simply evolved and I have a feeling that people born in my time and others are much better at keeping up with tech and changes compared to the other generation. Plus a lot of it is much easier for users to learn with better interfaces compared to becoming a mechanic for example.

Now these cycles simply elevated the jobs market and output but didn't really disrupt jobs in general. However would AI be the one that changes it all?

With AI we have robotics and outputs in which a large majority of labor jobs would simply be replaced by these robots.

Payouts

What we do know is that AI is coming but it's still up for grabs as to how it will effect the jobs market. There are many cases of this happening already to some extent where citizens get some form of payment back and honestly I've been a firm believer is in over the DEI crap we have today. Your payout in terms of my thinking should be somewhat the same as others but then bonuses based on performance by self or a group/team. Produce above average results get a small boost on your paycheck.

This makes even more sense when you think about it as companies are making money hand over fist so it only makes sense that the companies should be paying out these small UBI bonuses for example to their workers or to the general population that is supporting them in the first place by buying and using their products.

When you look at tech and other companies you'll quickly see the trillions of dollars they are sitting on that's just in cash this isn't even investments!

UBI Work?

My thoughts on UBI has changed a little over time and it greatly depends on how that payment is paid out and by who that payment is paid out from. It needs to still be fair to all sides in order to not chance business away but it also needs to be done in a smart way so it doesn't crush startups and small business.

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15 days ago in #hive-167922 by bitcoinflood

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dbooster 15 days ago

The cycles you mention are interesting. So last time we were in this position, what were we in for... The incredible social unbalance of the gilded age led to all the workers socialist movements, the equally incredible rise in the popularity of communism all over the globe, and the pressure of all these movements which led to the 8 hour workday, the 5 day work week, child-labor laws, unions, Labor Day, and other. Now that we are in an eerily similar social position, and with the added bonus of AI come for all of our jobs, what will be the result this time?

Could UBI work? It could, if we had laws preventing the accumulation of capital into the 1%, as we used to have before Reagan started dismantling what all those previously mentioned labor movements found for 100 years ago. As things are now, I can't see how UBI would help. People would try to hoard it out of fear, but eventually due to inflation they would have to spend it, and as society is set up now, it would just end up in the pockets of the 1%, leading to even further social unbalance than we already have.

I think UBI only works if we return to the social democracy that not only the US used to have, but many other Westerns countries did. In this era of unchecked capitalism, I don't see how it works or helps at all.

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riverflows 15 days ago

I do think something has to be risked in the absence of other solutions though. It has been run with some success where it's been trialled, although I haven't done a deep dive - probably just being idealist. But to make sure all your citizens have enough to pay rent, pay the bills, put food on the table - that seems worth a shot. Of course it has its flaws but Jesus - look at the system we have. And that was flagged even before AI started not being sci fi anymore.

However, I totally agree with you in advocating for social democracy over unchecked capitalism. I just feel a bit glum over idea it will NEVER be checked. The centre cannot hold, things WILL fall apart.

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