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So About This UBI...

While there are different flavors of the UBI, the basic concept is that everyone just gets money for existing—this, in theory, would help keep the economy running smoothly even as people are working less. "Sounds like a communist scheme" jokes Pethokoukis. But he explains how this is actually a very old idea that has its roots on the political right as a way to simplify the welfare state. It's an idea that's really taken off among the libertarian-leaning luminaries of the tech world in recent years. "Silicon Valley has sort of latched on to this idea. They have the most aggressive timetable as far as when we will actually see all these jobs hemorrhage," explains Pethokoukis. "So they've leaped ahead and started thinking about solutions. So, if you're worried about technological unemployment, the first thing you're going to think of is 'okay, if they're unemployed, we don't want anybody starving, so we're just gonna give everybody a basic income.'...I think it's an idea to consider. There are various flavors of the Basic Income. Right now I'd rather focus on getting people good jobs and training them rather than throwing up my hands and writing them a check." On the positive side, a UBI could eliminate "poverty traps" that can occur in many of today's welfare schemes—when recipients are disincentivized from getting a job because they'd lose access to services or take home less money. Additionally, if there's a firm baseline below which nobody could never fall, people might feel encouraged to take risks like starting their own business or investing in themselves by going back to school. On the flip side, a sturdy safety net might prove a little too comfortable for some and encourage people not to participate in the economy at all. Experiments with UBI around the world have offered mixed results. Few would argue there is an immediate need to confront mass technological unemployment, however it's certainly time society start thinking about its priorities. These ivory tower thought experiments about the 2030's economy may seem completely inconsequential, but technological evolution is promising some very big changes that will demand we navigate an unprecedented landscape. The Convo is PCMag's interview series hosted by features editor Evan Dashevsky (@haldash). Each episode is initially broadcast live on PCMag's Facebook page, where live viewers are invited to ask guests questions in the comments. Each episode is then made available on our YouTube page and available for free as an audio podcast, which you can subscribe to on iTunes or on the podcast platform of your choice.

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