Below is a summary for the article : If Robots and AI Steal Our Jobs, a Universal Basic Income Could Help by Singularity Hub
What is universal basic income? Who is experimenting with it?3.
Still others believe society will adapt, first by constantly demonetizing our cost of living and next by the the widespread deployment of a universal basic income.
What is universal basic income? Who is experimenting?
Universal basic income is a policy in which all citizens of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from other means.
The pilot study, running for two years in 2017-2018, aims to assess whether basic income can help reduce poverty, social exclusion and bureaucracy, while increasing the employment rate.
In January, Sam Altman, the president of Y Combinator, announced the San Francisco-based startup fund was organizing a basic income study in the US. Does UBI work?
That being said, 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.
In its 2016 budget, the provincial government of Ontario announced plans to conduct a basic income pilot this year.
I’m fairly confident that in the near future, as technology continues to eliminate traditional jobs and massive new wealth gets created, we’re going to see some version of universal basic income deployed at scale.
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