Elon Musk: Universal Basic Income
on Tuesday, June 13, 2017Elon Musk Money Quote saying that because robots and automation are going to take jobs, we will be likely to end up with Universal Basic Income (UBI). Elon Musk said:
“There is a pretty good chance we end up with a universal basic income, or something like that, due to automation” — Elon Musk
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In this quote, Elon Musk is echoing the view expressed by Johann Rupert earlier – that advances in automation and artificial intelligence could significantly reduce the number of jobs available, to the point that some form of universal basic income program may become necessary. By saying there is a “pretty good chance” of this, Musk seems to believe the rise of automation poses a real risk of widespread unemployment.
His statement implies that a universal basic income system, where everyone receives a set amount of money from the government regularly, could act as a safeguard against the societal impacts of job losses to machines and help ensure citizens have their basic needs met. So in summary, Musk is acknowledging the potential job disruption of new technologies and suggesting a basic income program may be required as a result of the effects of automation.