Universal Basic Income (UBI) is often framed as a necessary response to the job displacement caused by artificial intelligence and automation, but this perspective may be missing a crucial point.
Rethinking the role of UBI: Rather than being a consequence of technological change, UBI could be a catalyst for driving it forward in a more inclusive and socially cohesive manner:
- By providing a secure financial foundation, UBI could encourage people to actively participate in the technological transition through reskilling, upskilling, and entrepreneurship, creating complementary services and products.
- In this view, UBI is a prerequisite for a successful and equitable technological transition, not merely a safety net for those left behind by it.
The evolution of state support: The idea of UBI is not as radical as it may seem when considered in the context of the historical growth of welfare programs and state support:
- In many developed countries, a significant percentage of the population are net recipients of welfare transfers, with this proportion increasing during times of crisis like the 2008 financial crash and the Covid-19 pandemic.
- As societies become wealthier, they tend to invest more in social programs, driven by a combination of political, economic, and moral considerations.
- While some welfare programs may become unsustainable or politically difficult to modify, the overall trend is towards greater state support as countries develop.
Broader implications: Reframing UBI as a proactive investment in social stability and human capital, rather than a reactive measure to mitigate the negative impacts of technological change, could help build broader support for its implementation. However, the political and economic challenges of funding and administering a comprehensive UBI program remain significant, and will require careful consideration and planning to overcome.
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