As you say when AI creates a world where a lot of jobs disappear then an UBI may be an answer. You are probably aware of another approach to giving people income so necessary work gets done. that is the Job Guarantee. the interesting thing is that the kind of jobs that could be created and paid for (which still provides satisfaction and "work" - similar to the old idea of wages must only be derived and deserved because derived from "work" of some kind) But the difference could be that governments (the State with the purse strings) creates jobs that often would not be funded by normal commercial forces. that is kinds of services like teachers assistants, aged care assistants, nature remediation workers etc etc. These kind of jobs may often not get much funding but now under the JG you can create more of this kind of "work". Obviously what cultures value as "work" can be and is very variable. Monks meditating in a monastry may value their work and organise their devotions (many of which have no formal practical activity) but this just is my simple attempt to clarify that new jobs can have all sorts of valued activities (by the society) but no obvious or derectly measrable practical ends. Anyway an enlightened progressive government may , Noting the MMT basic understanding , that you dont have to Tax before you spend. Hence , I suggest the great disruption that AI probably will create (due to massive job losses) can be dealt with at least in part by using the JG to do all sorts of human interface (not able to be satisfied by non human service deliverers) jobs . So instead of the previous fiction that the government must not interfere with the market and it (wonderous) competitive forces . But the social shift for government policy may be (hopefully) reject the Neoliberal fiction that governments should "not interfer with the market". So at least there may be some useful changes giving compassionate caring state initated polices that actually re-define both "what valued work is" and why corporations in the large markets we had , are but a segment of what it means to operate and curate a society and its economic expression. Steve I love your work , but I note I believe Herman Daly has an essential message for any architects for Economic redesign. Ecological economics should be a major remodelling force for economic thinking. Cheers - Matthew.
As you say when AI creates a world where a lot of jobs disappear then an UBI may be an answer. You are probably aware of another approach to giving people income so necessary work gets done. that is the Job Guarantee. the interesting thing is that the kind of jobs that could be created and paid for (which still provides satisfaction and "work" - similar to the old idea of wages must only be derived and deserved because derived from "work" of some kind) But the difference could be that governments (the State with the purse strings) creates jobs that often would not be funded by normal commercial forces. that is kinds of services like teachers assistants, aged care assistants, nature remediation workers etc etc. These kind of jobs may often not get much funding but now under the JG you can create more of this kind of "work". Obviously what cultures value as "work" can be and is very variable. Monks meditating in a monastry may value their work and organise their devotions (many of which have no formal practical activity) but this just is my simple attempt to clarify that new jobs can have all sorts of valued activities (by the society) but no obvious or derectly measrable practical ends. Anyway an enlightened progressive government may , Noting the MMT basic understanding , that you dont have to Tax before you spend. Hence , I suggest the great disruption that AI probably will create (due to massive job losses) can be dealt with at least in part by using the JG to do all sorts of human interface (not able to be satisfied by non human service deliverers) jobs . So instead of the previous fiction that the government must not interfere with the market and it (wonderous) competitive forces . But the social shift for government policy may be (hopefully) reject the Neoliberal fiction that governments should "not interfer with the market". So at least there may be some useful changes giving compassionate caring state initated polices that actually re-define both "what valued work is" and why corporations in the large markets we had , are but a segment of what it means to operate and curate a society and its economic expression. Steve I love your work , but I note I believe Herman Daly has an essential message for any architects for Economic redesign. Ecological economics should be a major remodelling force for economic thinking. Cheers - Matthew.