Over the last two years Silicon Valley has fallen in love with a striking economic theory. As former Facebook executive Sam Altman wrote recently, "There’s been a dinner-time revival of the old conversation about the inevitable need for a guaranteed basic income in the United States." It’s ironic that in the heart of winner-take-all venture capital culture, there is a growing call for a massive redistribution of wealth, but if you believe that artificial intelligence and robots will improve dramatically over the next decade, it makes sense to start planning for a society that has little need for human labor.
The idea of universal basic income (UBI) has been around for a while, and numerous studies have found that giving cash directly to...
via The Verge
