UBI and Sovereign Money represents the best consistent policy proposal. It’s a preferable solution to increased taxation, which would have the further effect of reducing aggregate demand. The high-tech, high automation structure of modern economies does need a basic income to supplement or replace wage, both to sustain people’s living conditions and to create aggregate macroeconomic demand.īut the same arguments lead to a matching proposal for sovereign money, ie debt-free government money issued up to the level of full potential output GDP, which can fund UBI and other social welfare programs. Yang presents basic income (UBI), funded by VAT, new creative use of time, and reformed US health and education services as the set of answers. Personal and social living conditions for communities of ‘normal people’ suffering economic exclusion are dreadful.Ī civilised society with immense productive capacity due to automation can achieve better, fairer outcomes. This ‘Great Displacement’ is more widespread and more far-reaching than previous waves of technology. He shows how automation threatens incomes across a range of employment from clerical administration, through retail, food and catering, manufacturing, trucking, insurance, accountancy, medicine and law. The New York Times bestseller from CNN Political Commentator and 2020 former Democratic presidential candidate Andrew Yang, this thought-provoking and. Andrew Yang who created and leads the ‘Humanity Forward’ movement, presents a widely-researched, intelligent, and very readable depiction of the plight of mid-America as technology reduces jobs and incomes.
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