Universal basic income (UBI) is an income model that proposes a specific amount of government funding be provided to citizens — regardless of their income or employment status, and would not impose restrictions on how the money is spent, but would it affect the labor market?
Universal Basic Income would be the first ever policy to completely eliminate poverty while not affecting other aspects of society or economy in a negative way, studies show that it will do it in a positive way thought.
UBI would give individuals freedom to spend the money in a way they choose. In other words, UBI strengthens economic liberty at an individual level. This would help them to choose the kind of work they want to do, rather than forcing them to do unproductive work to meet their daily requirements.
UBI would reduce government size and replace the inefficient welfare programs that are increasing poverty instead of reducing it, while making everything more transparent in the way.
In the industrial age, people were needed in order to run the machines and therefore generate wealth, so, labor force was needed, so schools with today’s form appeared.
Students are sitting in lines, just like in factories, and they have to obey the teacher, just like workers obey their supervisor.Trump It’s crystal clear, school is a worker generator.
Today, we have automated systems in factories and the need for labor force is constantly decreasing, if it continue that way, it’ll reach zero soon.
Schools are totally useless (at least in their current form) today, as we are not in the industrial age anymore, so this kind of worker has no demand.
We now can do almost anything, and fully automated, workers can now become entrepreneurs, as automation can do the hard work and generate the wealth, while people can do something more advanced.
A universal basic income would give an upgrade to our current economic system, and directly lift the living conditions of everyone, and change forever what it means to “make a living”.
Trump was elected because we automated away a ton of manufacturing jobs, according to Andrew Yang, an American entrepreneur running for President in 2020 on a platform based on a universal basic income plan.
People will always work to improve every aspect of humanity, but in order for that to happen, people much give up the old way of thinking and establish UBI system under which everybody’s survival will be guaranteed, and people will be able to do more advanced tasks.
Conclusion: Yes, UBI would empower and improve the labor market, it’s common sense, when there’s more consuming power (in that case that’s the freedom of choice that UBI makes possible) there’s always innovation and progress. That would make the U.S economy skyrocket.