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Basic Income

Artificial Intelligence And Income Inequality (via HuffPo)

“Income inequality is a well recognized problem. The gap between the rich and poor has grown over the last few decades, but it became increasingly pronounced after the 2008 financial crisis. While economists debate the extent to which technology plays a role in global inequality, most agree that tech advances have exacerbated the problem.

In an interview with the MIT Tech Review, economist Erik Brynjolfsson said, “My reading of the data is that technology is the main driver of the recent increases in inequality. It’s the biggest factor.”

Which begs the question: what happens as automation and AI technologies become more advanced and capable?”

Artificial Intelligence And Income Inequality
https://www.huffingtonpost.com/entry/artificial-intelligence-and-income-inequality_us_58cafe92e4b07112b6472beb
via Instapaper



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The Gradual Disappearance of Jobs – very good read on UBI and negative income tax

“Once Moravec’s paradox is relegated to the history books, formerly protected unskilled low wage jobs will disappear due to automation. The only jobs to persist will be those needing creativity and an ability to work with artificial intelligences, an aptitude that will be seen as a positive skill and then as a way to achieve a larger social valorisation. At some point, the switchover to mass automation will be so overwhelming that the negative income tax will probably become toxic while a universal basic income will more efficiently stabilize our societies.”

The Gradual Disappearance of Jobs
https://ieet.org/index.php/IEET/more/Gazengel20170125
via Instapaper







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The Coming Tech Backlash – NewCo Shift

“50% of the jobs will be gone in ~20 years. Not from the great sucking sound of jobs to Mexico that can be stopped with a wall. Not from moving offshore to China. From automation that is moving quickly from blue collar manufacturing to white collar information work. Second only to climate change, this is the greatest disruption of our time, and I don’t mean that word in a good way.

A recent study found 50% of occupations today will be gone by 2020, and a 2013 Oxford study forecasted that 47% of jobs will be automated by 2034. A Ball State study found that only 13% of manufacturing job losses were due to trade, the rest from automation. A McKinsey study suggests 45% of knowledge work activity can be automated.

94% of the new job creation since 2005 is in the gig economy. These aren’t stable jobs with benefits on a career path. And if you are driving for Uber, your employer’s plan is to automate your job. Amazon has 270k employees, but most are soon-t0-be-automated ops and fulfillment. Facebook has 15k employees and a 330B market cap, and Snapchat in August had double their market cap per employee, at $48M per employee. The economic impact of Tech was raising productivity, but productivity and wages have been stagnant in recent years.”

The Coming Tech Backlash – NewCo Shift
https://shift.newco.co/the-coming-tech-backlash-82b22e0c1198?_hsenc=p2ANqtz-8CQA_66MQSsgwaTWFurXUt46g_9HJpIyQ07srAaTAmer2Gx7f5N41KRjw3LTFfNOZKQ53T9V9teAvSH8bm7H2IqTmMzQCdrP3fcDEZKErSuoUpbpo
via Instapaper







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Is Universal Basic Income the Answer to an Automated Future? Via Peter Diamandis

“the most compelling study demonstrating how universal basic income could work comes from a small town in Canada.

From 1974 to 1979, the Canadian government partnered with the province of Manitoba to run an experiment on the idea of providing a minimum income to residents called MINCOME.

MINCOME was a guaranteed annual income offered to every eligible family in Dauphin, a prairie town of about 10,000, and smaller numbers of residents in Winnipeg and some rural communities throughout the province.

So what happened to families receiving MINCOME?

They had fewer hospitalizations
They had fewer accidents and injuries
Mental health hospitalizations fell dramatically
High school graduation rates increased
Younger adolescent girls were less likely to give birth before age 25, and when they did, they had fewer kids”

Is Universal Basic Income the Answer to an Automated Future?
https://www.linkedin.com/pulse/universal-basic-income-peter-diamandis
via Instapaper


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