If everyone is fired by AI, who's going to buy the products and services made by the companies if no one has money anymore?
If everyone is fired by AI, who's going to buy the products and services made by the companies if no one has money anymore?
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They keep talking about UBI as income…. But I’m not a huge fan as it can be exploited in many ways.
Depending on the details of the system... Who cares?
Sure, we can have a couple investigators working on gross abuse of the system, but we spend more money fighting social security and disability claims than it would cost to just pay every request.
I've heard people say a UBI is easy to exploit before.
But I don't see how.If everyone gets the same payment, with the only qualifiers being citizenship and age; How can it be exploited?
It sounds like the beginning of a cast system, I can't imagine it not being abused in our current economic system. It's also essentially welfare + a bit extra so you can actually live on it.
How will this deal with home ownership and paying for your kids education? And then your kids end up being stuck in the same situation they were born into with absolutely no way forward. It's already like this in a sense but UBI is very likely to amplify it imo.
It's the same capitalism we have now; Accept the bottom income level, isn't zero anymore.
Who would be in what Cast?
Where do you draw the lines?My main fear is how this will affect renting and house ownership. Rents will probably go up as UBI comes into play and what's left won't be enough to save for any kind of down deposit. I doubt UBI will be enough for monthly mortgage payments in any case.
It's already very hard to move past the renting stage, I imagine it will be impossible once on UBI.
The cast would be comprised of land and business owners. Again, it's already almost the case, I just think UBI without careful considerations would amplify it.
Rents will probably go up [...] and what’s left won’t be enough to save for any kind of down deposit.
It’s the same capitalism we have now.
Whatever it does to home and rent prices, as well as inflation generally, would be temporary until the markets adjusts. That can be softened by slowly phasing it in, maybe $100/m each year. The standard supply, demand, price balancing act at play. This time with the income floor not being at $0.
I completely agree with you. UBI is overall a good idea, I just think UBI alone won't be enough to properly deal with massive job loss and certain aspects of our economic systems are going to greatly reduce its impact. It's a very complicated problem and we have some serious decisions to make, it's further complicated by the fact that the best solutions will probably end up dealing a blow to the billionaire class and big corporations and they will most likely fight tooth and nail to keep the status quo.