Andrew Yang: UBI for Capitalism
on Wednesday, March 14, 2018Andrew Yang Money Quote saying Universal Basic Income will be required to preserve our capitalistic way of life. Andrew Yang said:
I’m a capitalist, and I believe that universal basic income is necessary for capitalism to continue
— Andrew Yang
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Andrew Yang is arguing that for capitalism itself to survive and thrive into the future, a universal basic income may be necessary. As a capitalist, Yang believes that capitalism has benefits but that technological changes like automation risk disrupting the job market and economy in ways that could undermine capitalism.
By providing everyone with a basic income, it could ensure people still have money to spend in the economy to drive consumer demand, even as the nature of work changes. So in Yang’s view, a universal basic income could help address challenges to capitalism from trends like automation and allow the capitalist system itself to continue functioning effectively going forward.