Another well-known economist has expressed the possible need for basic income in the 21st century due to technological unemployment. Roubini has worked for the IMF, The Fed, the World Bank, and was a Senior Economist for the Clinton White House. As we begin to seek enlightened solutions to the challenges that the Third Industrial Revolution presents, one overall theme looms large: The gains from technology must be channeled to a broader base of the population than has benefited so far. That requires a major educational component. In order to create broad-based prosperity, workers need the skills to participate in the brave new world implied by a digital economy. Even that may not be sufficient, in which case it will become necessary to provide permanent income support to those whose jobs are displaced by software and machines. Here, too, we should attend carefully to the lessons of the past.
Posted on: Mon, 05 Jan 2015 16:33:23 +0000
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