Automation likely to lead to a society that will rely on a basic income structure – Tests are underway
It was Groucho Marx who said, “While money can’t buy happiness, it certainly lets you choose your own form of misery.” Quite true, but what if there’s no money coming in from work because your job’s been taken over by a machine?
Low wage earners appear to be most at risk from automation. In February 2016, the Council of Economic Advisers (an agency within the Executive Office of the US President) issued an alarming report predicting that an 80% or greater chance exists for people on basic incomes of US$20 per hour or less to be made redundant by smart machines in the foreseeable future.
After them come the mid-range workers. Clearly, we need strategies to address any job losses arising though increases in automation.
…and as great as the new low minimum wage sounds, it will certainly speed up the introduction of automation into all service jobs and their eventual disappearance.
We have to plan for it now.
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