Opinion: How UBI Can Alleviate Class Disparity and Mental Health Issues In the Age of AI

The rapid advancement of artificial intelligence (AI) and automation is reshaping the global job market, leading to layoffs and raising concerns about the future of work and societal well-being.

The problem: mental health and education in the age of automation; The increasing ability of AI to perform current human job functions is leading to job displacement, exacerbating mental health issues among young people who already face alarming rates of anxiety and alienation:

• One in seven adolescents globally experiences mental disorders, impacting their education and overall well-being, according to the World Health Organization.
• AI and automation create a demand for skills that don’t match those emphasized by today’s education systems, leading to a significant mismatch between the skills workers bring to the market and the skills new jobs require.
• The AI revolution is accentuating the flow of income and power to the owners of property, leaving a new class—the precariat—wallowing in insecurity and existential fear.

Implementing universal basic income (UBI): strategies from leading experts; Experts Evelyn Forget, Guy Standing, and Karl Widerquist offer ideas on how governments can achieve the transformative policy of UBI:

• UBI can be funded through taxes targeting the top 1%, including land value, resources, and rent taxes, wealth taxes, and higher income tax rates for the wealthy.
• An “eco-fiscal policy” involving a Commons Capital Fund, financed by levies on activities causing ecological harm or loss of common resources, can help fund UBI.
• Integrating UBI into existing social welfare programs can minimize bureaucratic hurdles and manage the transition to address potential economic disruptions.

The potential of UBI: economic and social benefits; UBI can provide a financial safety net that mitigates economic insecurity and inequality while allowing individuals to pursue meaningful activities:

• UBI can reduce healthcare costs significantly by improving overall well-being and reducing hospitalizations, as demonstrated by the 1970s Mincome experiment in Canada.
• Financial stability provided by UBI allows families to prioritize education, breaking the cycle of poverty and enabling individuals to pursue fulfilling careers.
• Evidence from numerous UBI pilots worldwide shows that it increases work participation and enhances mental health and educational outcomes.

Addressing misconceptions and charting a path forward; Despite the potential benefits of UBI, misconceptions persist regarding its affordability, impact on work incentives, and the notion that it provides “something for nothing”:

• Research and UBI pilots debunk these myths, demonstrating that UBI increases work participation and improves mental health and educational outcomes.
• Policymakers should focus on gradual implementation, support for education and reskilling, promoting mental health, and establishing sustainable financing mechanisms to harness the transformative potential of UBI.
• Integrating UBI with comprehensive educational and social reforms can help build a society that values human dignity, purpose, and collective well-being in the face of rapid technological change.