Can Free Money Make Up for Widescale Job Loss?
Faced with the prospect of up to a third of jobs being eliminated by automation in the next decade, governments are taking another look at Universal Basic Income.
By 2030, as many as 73 million U.S. jobs could be lost to automation, according to global management consultants McKinsey and Company. The prediction has governments, activists and even venture capitalists dusting off an old idea to give cash directly to displaced workers without conditions to meet their basic needs.
This new take on Universal Basic Income (UBI) has garnered support across the political spectrum, from social democrats on the left to libertarian entrepreneurs on the right. The model also has its skeptics.
In this episode of "Go Public," we revisit the argument for and against UBI with a focus on its economic viability and potential community impact.