His post connects two very relevant concepts of the 21st century: the idea of basic income (when the state pays a set amount of money to all citizens, no matter their other earnings) and the loss of jobs due to the unrivalled speed of technological advancement. More to the point, that robots are replacing human capital in more and more work tasks – a problem his basic income theory could solve if implemented by the state.
Dans uses the example of self-driving cars to illustrate his point, arguing that in comparison, “we simply do not have 360 degree night vision, our reflexes are slow, and we get tired, and that is without mentioning alcohol and drug consumption or road rage.”
“…When we see Chinese factories announcing the replacement of 90 percent of their workforce with robots, and where just a couple of hundred workers will carry out what is being called “supervision” but is in reality “servicing” of these machines, the adrenalin starts to flow: the fact is that it’s not so mush the replacement of people by machines, but the constant evidence that these machines are not simply replacing us, they actually do our jobs better than we do.”
He proceeds to give us his unique insight into why restructuring the economy to center around basic income could be the perfect resolution.
“The only way forward is a complete restructuring of society, and the creation of a genuinely new economy: a basic income that would allow us to live, but not on the basis of just sitting around doing nothing, rather one that would resolve our most basic needs and that would allow those who wanted a higher standard of living to work in areas that would generate extra income: part time work, entrepreneurial activities, or even the few traditional jobs that remains, tasks where human input provides added value” he explains.
Dan’s insights are unique, insightful and most certainly made us think!
We highly recommend you read the full article on medium.com, here, and comment your thoughts and opinions below.