Comment Magic money (Score 4, Insightful) 187
Where is all the money for this UBI going to come from?
Tax the rich?
Yeah, that's not working now so I don't see it working just because UBI is a thing.
The sad reality is that AI is likely to cause major financial stress, regardless of whether there's a bubble or not. Once AI improves worker productivity by a huge amount there will be job losses. That loss of jobs means less money in the economy to purchase goods and services. Reduced demand means reduced profits for the companies that employed AI in the first instance.
Net result: huge economic contraction and a situation where nobody wins.
The oft-described utopia where nobody ever needs to work again (are you listening Elon) is better described as 100 percent unemployment -- with all the heartache and financial difficulties that brings.