Question

Notwithstanding the optimism of our new technologies from tech professionals and others. And notwithstanding the convenience, low costs, and unimaginable benefits from technology, the reality is, if the advancement continues at this rate, there is little doubt that within the life time of the millennial generation millions of jobs will be permanently eliminated.

This will impact knowledge workers as well as laborers. To avoid outcomes reflected in the recent study of the “Collapse of the White Working Class” should society began to look seriously at the Universal Basic Income? Does this allow us to minimize/avoid potential astronomical poverty rates and crime? Does the current worldwide health crisis (COVID 19-Pandemic) impact or change your opinion regarding UBI?

Answer 1

The COVID-19 has affected all categories of people across the world. We cannot refuse the fact that once the the pandemic is over, we - all nations would be facing a huge economic crises. Jobs will be lost. Employers will sought to using technology rather than employees. Now that the world has realized the benefit of work-from-home, several jobs will be eliminated. Giving rise to increase in unemployment. On the other hand, the drift between the poor and the wealthy will increase. The world thus must begin to focus on Universal Basic Income. This would help restore the economic balance in world. Reduce frustration among the struggling professionals who are unable to acquire even a decent job.

The pandemic certainly has changed my way of thinking about UBI. It has given me a global perspective, rather than a more local and self perspective. In order to sail through the economic crisis, UBI would be essential.