Universal basic income (UBI) Message Board

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Strategies & Market Trends : Universal basic income (UBI)

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To: Cogito Ergo Sum who wrote (250)	1/16/2019 12:29:32 PM
From: TimF	Read Replies (1) of 455

Human wants are in a sense unlimited. Eliminate any number of jobs by creating extra productivity, and thus more total wealth to support other jobs, and you won't automatically get a lot of unemployment. A problem is if the change happens too fast. It takes time economies to adjust and for people to get new skills (or the next generation with different skills to replace them. Fast change that's kept up for awhile (rather than just gradual continual change or a rapid shock but then time to adjust afterwords), can result in a large mismatch between skills required and skills possessed by many workers. In the short run you can even have no demand for newly unemployed labor not just demand that they don't have the skills to meet.

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