… the idea of the state providing a monthly pay-check to all citizens, is seen as the panacea for work displacement caused by automation. But it’s a non-solution to a non-problem.
Automation is not a problem. It has been happening from the dawn of time. But what we have discovered is that there are an infinite number of jobs. Society needs will create new jobs, and they're impossible to predict.
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During the current (or impending) lockdown, many jobs will, and have already, vanished overnight. Stock market losses reflect a concern for just how big a change in consumption this could bring.
Hong Kong already approved a kind of emergency UBI, giving each citizen 10,000 Hong Kong dollar...
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