Post
Topic
Board Economics
Re: Crypto, Universal income and cryogenics the redistribution of wealth
by
o_e_l_e_o
on 08/09/2019, 14:26:32 UTC
I'd like to live in a country where nobody has to starve because every little thing you do is free of tax and gives you enough profit to live on.
That would be great, but it isn't the case at the moment. In many places, a full time job at minimum wage still puts you below the poverty line, with not enough money to live adequately. Several states in the US and some countries around the world have introduced the concept of a "living wage", which is higher than the minimum wage and generally set at or just above the poverty line.

You shouldn't look at automation like it's a fast process. By the time it replaces people's jobs there will no longer be anyone qualified to do them.
It doesn't need to be a fast process. We have an estimated population growth of 3 billion in the next 30 years, and an estimated 30% of jobs at risk of automation within the same time frame. Widespread unemployment and therefore poverty is inevitable unless something is done.

This was such a slow process that young people stopped choosing it as their future profession, knowing the amount of work is declining.
That's all well and good, but there were jobs in other sectors available for these young people to aim for instead. When the shrinking job market is over-saturated by the growing population, what then?