An interesting concept. I feel it is time we should consider this? Click here to read the full article or read an excerpt below.
This idea of a universal basic income (UBI) has made its way into the people’s mind, at times under other names—basic income guarantee (BIG), universal income, guaranteed annual income, etc.—in part because we have to recognize the failings of our present social policies, and because the technological progress eliminates the need to employ workers, thus depriving people of an income. As early as 1930, the economist John Maynard Keynes wrote in a book titled “Economic Possibilities for our Grandchildren”:
“We are being afflicted with a new disease of which some readers may not yet have heard the name, but of which they will hear a great deal in the years to come – namely, technological unemployment. This means unemployment due to our discovery of means of economising the use of labour outrunning the pace at which we can find new uses for labour.”