The past couple of years has been a quasi-experiment into Universal Basic

The past couple of years has been a quasi-experiment into Universal Basic Income (UBI). And I’d say it failed spectacularly.

If you recall my previous posts about UBI, the mainstream reasoning for the concept is to provide a foundation of financial support for those displaced because of technological changes, namely automation and artificial intelligence.

Simultaneously, the world is just now reentering a period of normal jobs again, now that the world is opening back up after the pandemic.

However, at the same time jobs would typically become available, we’re seeing them eliminated because of the quantum leaps in artificial intelligence and automation.

This perfect storm is going to result in a drastically altered economic landscape. Where folks don’t have available jobs and the government doesn’t have the financial tools to provide for the jobless.

Re-training wide swaths of people with the skills to outpace the developments in AI will be a losing battle. So buckle up folks, this decade is going to be a wild ride.