- Bill Gates has said he doesn’t think a UBI system would work right now as countries do not have enough money and should first focus on helping specific groups of people.
- With automation poised to displace millions of workers in the coming years, many countries do think UBI systems are worth testing out.
In theory, a universal basic income (UBI) would be great. Under such a system, all citizens of a country are entitled to an unconditional amount of money on top of income they already generate through other means. It could spur productivity, improve health, alleviate poverty, reduce crime, raise education, and improve quality of life. It’s also especially relevant, given the reality of automation taking over more and more jobs.
Many people claim 2017 is the year UBI sweeps across nations. But when even Bill Gates cautions that it may bot be ready for prime time — or we for it — well, that is not an encouraging sign for them.
I guess the left are busy pushing the 15-dollar minimum wage now anyway.
And why not just give everyone a portfolio of stocks too — a basket of their choosing within a fixed dollar amount? I mean while they’re at it.