Universal Basic Income (UBI) is being touted as a solution to a major concern that arises with automation in the workplace - mass unemployment. What is UBI? What are the benefits and drawbacks?

1. What is UBI? Why UBI?
Automation is happening 10 times faster and at 300 times
the scale, or roughly 3,000 times the impact of the
industrial revolution.
35% 47% 77%
35% in the UK
UBI is a fixed amount paid by the government to its
citizens regardless of employment status or wealth.
It is being touted as a possible solution to mass
unemployment via automation.
Pros Cons
It could provide financial security for
all, eliminate the number of house-
holds living below the poverty line.
It could lead to an explosion in
creativity, research and
entrepreneurship.
The cost of implementation
for governments would be
too high.
UBI itself disincentivizes,
potentially leading us down a
path towards economic stagnation.
£
£
Pilot Studies
Namibia
(started 2008)
Brazil
(started 2008)
Netherlands
(Utrecht, 2015)
India
(started 2011)
Canada
(Ontario, 2016)
Canada
(Manitoba, 2017)
Finland
started (2000)
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Sources: McKinsey, Oxford Martin School
Automation - the risk to jobs
57% of jobs are at risk from automation in OECD countries across the world.
47% in the US 77% in China