Vince Scafaria
A
A friend asked "Do you think we should have universal basic income?"
(The context: AI putting pressure on jobs and wages)
My reply...
To me this is like asking "Do you think some people should be allowed to eat food and live indoors?"
I dispute the PREMISE...
11:20 AM - Apr 15, 2023
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Vince Scafaria
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In response to Vince Scafaria.
Forced to answer yes/no, I'd say yes, but the premise is flawed.
Every economy is part of a society. Society decides what's acceptable. When power compounds without any restraints (libertarianism), the elite are left wondering what to do about "those people"...
11:21 AM - Apr 15, 2023
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Vince Scafaria
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In response to Vince Scafaria.
It might start as the bottom 50% but will keep growing because that's what exponential compounding of wealth and power (for those who have it) implies. One day you think you're indispensable and the next day, you're obsolete. Eventually, nearly everyone is a non-elite...
11:21 AM - Apr 15, 2023
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Vince Scafaria
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In response to Vince Scafaria.
The answer imo is for society to disallow exponential unrestrained compounding of wealth and power.
Yes to capitalism because incentives matter. But no to libertarian capitalism.
What type of society could impose these restraints on the powerful? Only a healthy democracy...
11:21 AM - Apr 15, 2023
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