Can universal basic income help society?

Рет қаралды 200,123

5 жыл бұрын

In parts of California there are plans to give people no-strings-attached cash, whether they have a job or not. It's hoped these trials could be the solution to a potentially jobless dystopian future. Film supported by Mishcon de Reya
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Пікірлер: 654

@Alexzmovie 5 жыл бұрын

Here in Finland our government recently ended a 2 year UBI experiment, which involved around 2500 people. So far the conclusion seems to be that it doesn't have an effect on unemployment rates however the participants reported improved mental health and well being.

@hdaviator9181 5 жыл бұрын

Yeah no shit. I would feel good if I got money for doing nothing. But you still have the problem of where that money comes from. And considering this is being used as a means to solve increased unemployment, the likelihood of it being sustainable seems small.

@andreisharmin6444 5 жыл бұрын

Just 500 euro, it's not enough to live well. I see two conclusions: it's good to pay lower tax and it's very good to don't pay people to not working (unemployment benefit - you lose it when start working)

@lprice69 5 жыл бұрын

There’s was a lot of politics behind the trials though, many of the recipients spent the money on caring for family even lowering their hours of work to care for vulnerable family members. There’s a similar trial being proposed for Scotland and is based more on a geographical area which should allow the researchers to look at the social implications such schemes will have. That’s the big one from where I’m sitting as people in isolation would have a very different experience to that of a groups of school leavers with money in their pockets. Universal Basic income though is another tool to combat the ever growing wealth disparity... How much money do we need or how good a lifestyle do we want before we decide its ok to have individuals with vast reserves of wealth. Something needs to done to balance this divide soon, AI and non-human manufacturing are just going to suck more wealth out of the system. Interesting times to living in.

@augustoliver351 5 жыл бұрын

Alexander Backman, thanks for sharing. Those are important things in life. Hope Finland 🇫🇮 can help the world move forward with this.

@RainFox84 5 жыл бұрын

@@hdaviator9181 yet somehow this question is never asked of things that destroy value, middle east wars, as one example. the money does not magically disappear it pays for goods and services in the economy and is taxed along the way, this is a change in the velocity of money not in the total amount of money, VAT, wealth tax, trading tax, many ways to pay for it.

@ridgemondhigh4891 5 жыл бұрын

There are basically three outcomes to a universal basic income. 1) It would free-up talented, ambitious individuals from the gruel and drudgery of making ends meet, enabling them to focus their time, energy and efforts on creative projects, enterprises and endeavors. In doing so, they become the next Shakespeare, Van Gogh, Edison, Madonna, Bill Gates, Steve Jobs, Elon Musk, Got Talent or KZbin sensation. 2) On the opposite end, you'll have people who will simply sit back and watch TV all day, buy and eat more junk food, and have lots of children. 3) Somewhere in between, doing odd jobs or volunteering here and there.

@amit4Bihar Жыл бұрын

What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended. Ubi is slavery.. Your income is dependant on the whims and fancies of govt. Will ubi keep up with inflation, i bet it won't. What is Actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires. Unions must become stronger and more representative of public. Labour must become more powerful than capital. Keep fooling the masses with ubi.

@yxeaviationphotog 5 ай бұрын

I think you'll find that there will be a very small majority who will choose to sit around and do nothing. But that will be boring and unfulfilling really quick. Once that kicks in, then people are going to start thinking that if I want to be able to do more stuff, I gotta bring in more money. Not having to worry about choosing between rent, food or bills goes a long way to improving people's mental health, which in turn makes them more productive. But if you want a lifestyle beyond what a basic income provides, then you still have to go out and work. For #3, if one has been out of the workforce for a while, odd jobs and volunteering goes a long way to padding a resume, so that they have a better chance of getting into the job market again. Or, it's great for retired folks.

@jimmyjay689 3 ай бұрын

So u agree? Its a horrible idea

@jimmyjay689 3 ай бұрын

@@yxeaviationphotogso u werent motivated to be financially ambitious b4, but u will be after recieving free money?

@yxeaviationphotog 3 ай бұрын

@@jimmyjay689 I never said I or anyone else was more or less ambitious. It's all about available resources. Everyone getting UBI has an additional resource to help improve their standing. It's hard to be more ambitious because resources are limited when you have to choose between eating or keeping a roof over your head. But sure....give people a leg up=everyone will be lazy. Nice WIDE brush you're using there.

@TheAzazzExperience 5 жыл бұрын

I can just tell those watching this: I make 1300 a month and my wife makes just a bit more than that at 1600 a month on minimum wage fast food jobs. Just receiving 500 a month for each of us would increase our income by a quarter. 1000 a month for a married couple sounds like a lot, but that's the equivalent of each of us earning about 4 bucks more of income per hour at our current jobs. A noticeable bump, but not crazy. It would allow us to actually be able to afford to buy new clothing, replacements for degrading furniture and tech, and food without having to pull out absurd and costly credit lines and loans. And in turn, it would allow us to reconsider our living space entirely - we're living in a 1000 a month 1-bedroom on the edge of Denver, CO right next to Aurora - not the nicest neighborhood at all. 500 more for rent (assuming rent prices didn't skyrocket to try and gobble up any extra income provided by the government) and 500 for other expansive things in our home would be a very sufficient boost. Neither of us nor our families can afford college expenses, so schooling is not an option unless a full version of basic income and/or free schooling was a thing. But these advancements are going to be long overdue by the time they arrive, and by then, a whole generation will be economically displaced.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@amit4Bihar Жыл бұрын

Rents will go up. What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended. What is actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires and that unions must become stronger and more representative of public.

@SalamHerbs-db5nt 5 ай бұрын

I hope you like paying taxes

@authenticallysuperficial9874 3 ай бұрын

It would be great if someone could give you alms, although there are others who need it more. But this is not justification for you to steal from anyone.

@salokin3087 5 жыл бұрын

It's an idea proposed and considered by people like Nixon and milton Friedman, so its not a "left" idea. we need more tests and experiments like these

@ignaciobenjamindebortoli7819 5 жыл бұрын

They should study Argentina's case. Here, money is given (around a third of minimum wage I believe) to people per children, on the sole condition of sending said children to a free, public school.

@ignaciobenjamindebortoli7819 5 жыл бұрын

As for results, much can be said. On the one hand it keeps a lot of people alive and eating in terrible times for the economy. Yet, since it's been on, poverty, malnutrition and inequality have risen sharply, at the same time as education and other social aspects have worsened considerably. Also, it takes quite a lot of national budget and that does require heavy taxation and scarce spending in other important areas like Education, Health or R&D (which are in a very bad shape at the moment), and is a very useful tool for populist governments to play with, which of course they have.

@mattandriolli 5 жыл бұрын

It is a leftist idea.

@discopoe 4 жыл бұрын

@Salokin Yeah, but Friedman only supported the idea in case the government would completely halt any other social or health related spending. You should not take his words out of context.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@lkgpuanimho0349 5 жыл бұрын

Till date, no UBI experiments have ever truly been universal, its always only a few people like this study only 1500 people are involved. This means that a true effect on inflation cant be measured. A truly UNIVERSAL BASIC INCOME experiment needs to involve a whole city or an entire country where everyone gets the free handouts, then you can truly and scientifically measure how it will affect inflation.

@Saleh-Ru 5 жыл бұрын

That was brought up in the video. If production of most goods becomes more automated, their prices will drop. Machines are cheaper to employ than humans

@alekseysoldatenkov5675 5 жыл бұрын

The Federal Reserve controls inflation through Contractionary Monetary Policy, so it's not a problem. Sorry bruh. ¯\_(ツ)_/¯ www.investopedia.com/ask/answers/111314/what-methods-can-government-use-control-inflation.asp

@lkgpuanimho0349 5 жыл бұрын

@@Saleh-Ru As things become cheaper, people will have more purchasing powers. This means UBI might not be needed after all

@lkgpuanimho0349 5 жыл бұрын

@@alekseysoldatenkov5675 Federal Reserve cant control ur landlords from charging you higher rent once he finds out you have extra $500 every month, can they?

@lkgpuanimho0349 5 жыл бұрын

@@alekseysoldatenkov5675 Plus they need to print money to give out such money...so yes, it will have effect on inflation

@falconarea 5 жыл бұрын

"Money for nothing, jobs for free?" Excellent Dire Straits reference...

@LoveUnityUnderGod 5 жыл бұрын

monney doesn't exist, it symbolize power over the mass, it's nothing, it's an illusory value at his core.

@arifhakimi8735 5 жыл бұрын

@@LoveUnityUnderGod money symbolises the effort you pour into something

@jeffersonsantiago5567 5 жыл бұрын

money is a tool for exchange. nothing more. some people though make it their god.

@ArjenvanHassent 5 жыл бұрын

It is way cheaper than keeping people poor. Really

@Jesus-kt5dc 5 жыл бұрын

@@LoveUnityUnderGod *YUP. WHAT MATTERS IS REAL RESOURCES.*

@pinzgauernorcal 5 жыл бұрын

The best part of playing the board game Monopoly, its when you pass go and get your UBI check #YANG2020

@androidbey 4 жыл бұрын

Bernie2020

@kevinlipps5456 2 жыл бұрын

Ubi would pay for itself in the long run. For example people are less likely going to prison if they know that they're not going to receive their Ubi during the periods of being locked up. People would have to focus less on survival, which causes many issues in our society. One of the biggest motivations of crime is because of poverty. This doesn't mean all criminal activity is because of poverty but poverty is one of the major reasons why people commit crime.

@jasonleeky453 5 жыл бұрын

I have an idea that when all jobs get taken over by AI, we would get a UBI which covers daily necessities and emergency with top ups based on selfless acts like community service, research and development and environmental preservation. That way, the people of the world would be innovation-driven, more empathetic and selfless instead of being selfishly driven by the pursuit of money, fame and success.

@ubik5453 Жыл бұрын

This guy gets it 👍

@amit4Bihar Жыл бұрын

What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended, it's back to feudalism and Flannery. Ubi is slavery.. Your income is dependant on the whims and fancies of govt. Will ubi keep up with inflation, i bet it won't. What is Actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires. Unions must become stronger and more representative of public. Labour must become more powerful than capital. Keep fooling the masses with ubi.

@Clintsessentials 5 ай бұрын

Love this!

@science5765 5 жыл бұрын

Yer sure why not, money isn't backed by any matching wealth any more, there is no need to have poor people, if the work will be done by machines, automation would have to happen across the board though

@The_Revolutionist 5 жыл бұрын

@Thomas Headley Only in capitalism my friend, but machines will put an end to it.

@craigbigelow8160 5 жыл бұрын

There will be no need in people.

@craigbigelow8160 5 жыл бұрын

They can't stop sex.And they don't like abortions!😕

@austinirabor6853 5 жыл бұрын

@@frankgarrett9500 This is the truth. It's what these types of people don't understand. No point in telling them this, they can't see past the free money.

@jimmyjay689 3 ай бұрын

Give every poor person 1 million dollars and they will still be poor...everything else will just become more expensive Einstein

@ZenLee 5 жыл бұрын

2:12 'I'm the first to say that for three years of worth of work, I ended up with nearly half a billion dollars. That is not how the economy is supposed to work.'

@amit4Bihar Жыл бұрын

@snorremortenkjeldsen6737 5 жыл бұрын

Why hasn't an interview with 2020 presidential candidate Andrew Yang who has sound arguments for UBI ("The Freedom Dividend") in America based on data and logical reasoning been included?

@ED-lf1wd 5 жыл бұрын

Glad to see even The Economist reporting positively about UBI. Sooner or later UBI will come. We can either introduce it slowly and cautiously, or we wait until the economy as we know it collapses completely and we see ourselves forced to introduce it as a means of preventing total desaster.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@amit4Bihar Жыл бұрын

What's the obsession with ubi? No wonder, the economist and billionaires are supporting UBI. UBI will ensure democracy is ended. What is actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires and that unions must become stronger and more representative of public.

@catvisiontv855 Жыл бұрын

We all need a Universal Dividend if getting this we would get about 25k more a year by taking 30% of GDP and giving it to everyone who is an Adult living in the US for at least 2 years. Get it on a ballot.

@casualeann 9 ай бұрын

@@amit4Bihar Strong unions for gig economy workers, people who are always "independent contractors" and not employees? I just don't see it, but what I could see is these companies deincentivizing the contractors who join those unions. I'd rather have the UBI to worry less about the poultry amount of hours I work as a contractor and focus on building my business.

@jimmyjay689 3 ай бұрын

U foolish clown

@jvhee 5 жыл бұрын

The question is how do we still give people a purpose in live. Life long learning is probably part of the answer. And more focus on exercice and healthy living.

@yxeaviationphotog 5 ай бұрын

You will still get that with UBI. All UBI means is you cover your basic expenses for the month....rent, food and bills. If you want anything beyond that, you're going to have to bring in more money....which is easier to think about since you don't have that constant anxiety of not being able to make ends meet each month. People will still go out there and learn, fail and learn life lessons from those failure and apply them to new ventures, only because their mind is a bit clearer and thus more focused. Also, a UBI will directly help people focus more on exercise and healthy living. But getting a basic income each month doesn't mean those people won't work and it also doesn't mean these people will be buying houses and jetting off to Mexico for the winter. People will still give people a purpose in life because they are now able to concentrate on finding out their purpose and not having to go through the meat bin and the supermarket and take the package of hamburger that is $8.53 instead of $8.54.

@mikecountryman2218 4 жыл бұрын

Glad the discussion is being had. It’s obvious that the economic realities of today have eroded what little economic security that most people had, and will continue. Acknowledging this is healthy.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@amit4Bihar Жыл бұрын

@billyb6001 5 жыл бұрын

Everyone is going to move to where the free income is

@constancaazeredo5845 3 жыл бұрын

There would probably be rules and burocracy to discourage that

@michaelhansen1108 4 жыл бұрын

Maybe I missed it, but did this article even once mention where the funds would come from?

@jimmyjay689 3 ай бұрын

Taxes from the jobs people dont have

@scottyofeden 5 жыл бұрын

I think I got this... So robots will do the work people once did? People won't need to work because they'll have free money to spend on the inexpensive products that the billionaires robots made? And since the government doesn't make money, the billionaires will be supplying the free money to the unemployed in order for them to buy something from the billionaire? And when the billionaire receives the money, he'll give it back to the people as free guaranteed income so they can continue to buy his products, so he could keep giving it back to them. Makes sense : ).

@adamshattuck1985 5 жыл бұрын

"the costs of goods and services drop" BS. a 2 liter of coke costs more by a afactor than it did when i was born in 1985 and yet the process has been automated beyond when i was born. all good doers seem to forget that many who found bussiness or even in regular life operate on greed. we all do. a extra piece of cake, a second cig, another round with your significant other, etc. without taking greed into account all you do is give king pins in poorer areas more cash.

@ruzzelladrian907 5 жыл бұрын

Is this being implemented in California? If so, I'm not surprised. The reason why poverty and homelessness in the rise in California is not because of " the greedy rich " it's because the local government makes it hard for people to do business in California unless if they're the size Apple, Google, or Samsung. Small to medium businesses find it hard to survive in California's bureaucracy, setting up a small apartment to fill a market need has to go through so much obstacles, not just the local government but activists as well. Seriously, a 5 storey apartment project wasn't allowed to be built because it casts a shadow on a ghetto public school in San Francisco; " public health concern as children might not get enough sunlight because of the building's shadow. "

@NeuroticKnight9 5 жыл бұрын

Do you think without regulations you will be a better ceo than Jobs or gates, talk about deluded.

@amit4Bihar Жыл бұрын

It's not because of regulations. That's what the billionaires wanna make you think.What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended. Ubi is slavery.. Your income is dependant on the whims and fancies of govt. Will ubi keep up with inflation, i bet it won't. What is Actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires. Unions must become stronger and more representative of public. Labour must become more powerful than capital. Keep fooling the masses with ubi.

@e1nste1in 5 жыл бұрын

You always have to be careful in one point: If the idea is to replace all the social security services with #UBI then very poor people will be worse off (at least in Europe).

@Azknowledgethirsty 5 жыл бұрын

Yes because here in Europe we have very high standards, if we want to replace it (I'm all for it) it should be a very generous UBI but since the free market is more effective, technically in the long run it'd be a good idea

@e1nste1in 5 жыл бұрын

@@Azknowledgethirsty Yeah, definitive some truth in that. However you also have to take things like government-owned apartments into account. Here the free market wasn't working that well in the past decades, especially in big cities rents have grown so high that you couldn't pay them with a #UBI. Cities which kept their properties (unfortunately not a lot) are now in a much better position than those who did privatisation.

@Azknowledgethirsty 5 жыл бұрын

@@e1nste1in yes its not a clear cut, some things of the current system are OK in some areas, we just need to apply the best of both

@amit4Bihar Жыл бұрын

UBI is slavery experiment. You'll be shifting your income source in someone's hands who has no interests in giving it to you What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended, it's back to feudalism and Flannery. Ubi is slavery.. Your income is dependant on the whims and fancies of govt. Will ubi keep up with inflation, i bet it won't. What is Actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires. Unions must become stronger and more representative of public. Labour must become more powerful than capital. Keep fooling the masses with ubi.

@quinsutton7097 7 ай бұрын

But it's universal, wouldn't those very poor people also be getting the UBI?

@craigbigelow8160 5 жыл бұрын

Will it have to be declared on taxes?

@danielmartinezdowsett4776 3 жыл бұрын

There will eventually be a point of no return. Billionaires and large businesses will have to expect to pay high taxes so that the money is then distributed to the population who will then use that money to buy their goods. They won't be making any money if everyone is unemployed.

@XSpImmaLion 5 жыл бұрын

I don't know how this will go, experimentation is always good, even though it'll likely not be enough to measure what would happen in a country wide scale... but there are also some things to consider that I never see addressed in these discussions. 1. full scale automation is unsustainable. Here's the logical problem: if you have all basic jobs replaced by robots at huge costs for corporations and whatnot, leaving tons of people jobless and without money to pay for anything, who exactly is going to make use of those services and products that are now created autonomously? The people who don't have jobs and thus cannot afford it? What ends up happening is all those corporations who invested heavily in replacing people for robots and automation going bankrupt, not being able to maintain their robotic workforce, and then closing doors or falling back from the high upfront cost high maintenance robots for whatever is available - human labor. Not that this cycle couldn't happen because people tend to adopt tech before they are ready to really deal with it, but again, it's an unsustainable cycle. I think one way or the other, this supposed automated/robotic revolution that is supposed to happen soon, if it happens will be very short lived. Why? Because we either solve it fast, or we'll end up with entire societies in ruins because of that cycle. This already sort of happened in a few cities.... labor replaced by automation or by outsourcing left ghost towns and ruined cities behind. So, if it happens large scale, that might be the ultimate result; 2. a free basic income for everyone is great... but it feels like we're jumping the gun here. What needs to come first, which we still haven't achieved, are the core basic necessities being fully provided to every citizen. Shelter/home, food, security, healthcare, education... stuff like that. That basic income should be extra, not something that could or could not be used to pay for basic necessities arbitrarily. Isn't there a way to put that money on a fund or bank account that will first make sure it's reserved first for those basic needs, and used for something else only if it's not necessary for those? I guess it's hard to control it like that, but still. I only now realized how communist that sounds... oh well.

@amit4Bihar Жыл бұрын

@StockMarketShorts 5 жыл бұрын

Andrew Yang 2020

@syntrexfpv1347 Ай бұрын

I feel like thinking prices will drop because they are now automated is a pipe dream. Prices will stay the same and more money will just go into the corporation and investor's pockets.

@EZ-STEM 5 жыл бұрын

It is biblical too. But with more educational programs attached to this free money it will increase literacy and more skilled workforce. We are doing this in the Philippines. But the downside is corruption of implementors ( politicians and govt employees).

@earthsteward9 5 жыл бұрын

There is also savings of administrative costs by replacing multiple support programs with one program

@rkosingh4514 5 жыл бұрын

Yang time

@canaldofred2366 3 жыл бұрын

3 trillion a year, where tf is he gonna get this money from??

@yooitscbce6578 5 жыл бұрын

Andrew Yang 2020 PRESIDENT Andrew Yang 2020 PRESIDENT Andrew Yang 2020 PRESIDENT Andrew Yang 2020 PRESIDENT

@Qq501 5 жыл бұрын

why not voiceoverpete

@squireob 5 жыл бұрын

There isn't really a question of whether these jobs are vanishing, just a question of whether there will be any income for the disemployed and inemployable masses - I don't don't mean unemployed, I mean cannot-be-employed.

@loudezseran 5 жыл бұрын

This isn't unprecedented. The Nixon Administration talked about an income floor for awhile.

@Maikkel 5 жыл бұрын

For those interested, the preliminary results of the Finnish basic income experiment are out: www.kela.fi/web/en/publications/-/asset_publisher/lvZwhvziXuKG/content/preliminary-results-of-the-basic-income-experiment-self-perceived-wellbeing-improved-during-the-first-year-no-effects-on-employment

@KR-nv3ru 5 жыл бұрын

I'll volunteer for the $1,000 a month, no-strings-attached UBI scheme. Where do I sign up?

@gabbar51ngh 5 жыл бұрын

Or you could increase the wages and lower the taxes?

@mentuemhet 5 жыл бұрын

where do i sign up? 😜

@AdhikJoshi 5 жыл бұрын

Last line he ssid is what describe me. I want to work on robotics startup. Can't do because I've to fund things which i don't want to. Else i would hsve done a lot

@RainFox84 5 жыл бұрын

thank you for posting, same here, moved to rural texas trying to self boot-strap as best I can taking much longer than I expected.

@MrMcCawber 5 жыл бұрын

What's the difference between this and handing out obscene salaries to CEOs who wouldn't know a day's work if it stood up and bit them???

@Azknowledgethirsty 5 жыл бұрын

Nah most ceos work a lot and so do most billionaires (look at Elon) It would work but not for your reason but because it creates a more powerful middle class

@frankgarrett9500 5 жыл бұрын

@@Azknowledgethirsty Bwhahahaha! Musk is an asshole!

@augustoliver351 5 жыл бұрын

Universal income will allow us to study, be healthier, and just live better.

@caf3in323 5 жыл бұрын

yeahhahahaahahahaaah ... of course it will love ... you said it the day Trump declared national crisis because he wants to build a wall

@PabloIzurieta 5 жыл бұрын

Someone needs to weigh UBI against the negative income tax. The negative income tax is a better idea.

@jasonleeky453 5 жыл бұрын

Wtff I thought of this idea when I was 9 because I knew jobs would eventually be taken over by automation and AI

@bartakin 4 жыл бұрын

Lower the rents and freeze them. Provide city clean up jobs like the Mayor of New Mexico has done, it restores the pride of working for it..Create other income opportunities in farming local produce. Teach them to grow corn, this motivates them on the right path. Handing out corn is no incentive..

@prateekkatiyar9532 5 жыл бұрын

last line touched me

@bradywade7123 5 жыл бұрын

Happy Valentine's Day you beautiful people! Just made a video about how to go about today the right way. Be single, Be married-- it doesn't matter as long as you're happy!

@chiyerano 5 жыл бұрын

I like the message they mentioned at the end. I am cautiously optimistic about all this.

@the_sideshifter 5 жыл бұрын

100 years ago we cut our working hours from 12/day to 8/day because of automation, now it's time to cut them again. It's way too early for UBI.

@MarcioCapuera 5 жыл бұрын

Excellent video

@shelekhov 5 жыл бұрын

Nobody is afraid of upcoming automation. Everybody is reasonably afraid that automation will be in the hands of a few megacorporations.

@rileylaforge7640 5 жыл бұрын

Really weighed the pros and cons there. Dipped deeply into expert opinon--the lowest form of evidence. Great work here.

@kimchibbq5242 4 жыл бұрын

Very interesting experiments indeed🙏🌏

@TheAcronis8 5 жыл бұрын

Presidential candidates Andrew Yang wants to do this for the entire US

@william_8844 5 жыл бұрын

If done too early it could be inflationary and problematic

@melodicnostalgic3823 5 жыл бұрын

Ah, Communism ?

@ReasonableRadio 5 жыл бұрын

@@melodicnostalgic3823 way simpler than communism. Instead of trying to collectivize ownership of value-machinery or eliminate class, here you can just give people money. The concept is only related insofar as it is not vanilla capitalism.

@TheCJUN 5 жыл бұрын

Joe Rogan podcast.

@LoveUnityUnderGod 5 жыл бұрын

it's the futur, people who don't understand that, have a serious brain disease.

@jackdumanat49 5 жыл бұрын

So I find it interesting that concepts like universal basic income (UBI) and socialist tax policies are having a growing foot hold. I think it boils down to our generation having a shifting paradigm like modernism in the late 1700s. these concepts flows well in other articles that said theorize an increased automation can also leads to more crappy jobs like being a full time Uber driver and more people would have multiple jobs to make ends meat. In this case, having a UBI would monetarily alleviate people like these as these jobs don't exactly give you a constant wage. That said people are leaning into socialist tax policies to fund such idea. though this narrative fits well with the future of automation, but I think america is not ready due to its very individualistic culture. will see what happens... its pretty interesting how it'll go in the future.

@Azknowledgethirsty 5 жыл бұрын

Well it's not necessary socialist, it can but doesn't have to

@jackdumanat49 5 жыл бұрын

@@Azknowledgethirsty maybe... But taxing the wealthy heavily, bigger corporate tax or a big percent income tax is more or less socialist tax policies (depending what the government do with the money afterwards lol). Well the concept of ubi stems from socialist thinking anyways.

@jackdumanat49 5 жыл бұрын

@ true i can see what i said happening, but i still thinking the culture of individuality is still pretty strong. Like the thought of paying larger taxes for benefit of others is kinda taboo with many. That said, i do agree with you on "it depends on how it rolls out". If someone appropriates American individualistic culture to accept this concept. Then i do see this becoming wildly accepted. But for now, we still in the cusp of a generation that thinks millennials are lazy and entitled snowflakes and their ways are still safe and better.

@chrismckellar9350 5 жыл бұрын

@@jackdumanat49 - What rubbish.

@reehji 5 жыл бұрын

please keep in mind that a UBI is literally a tax on people who are above the benchmark, the people who are comfortable but never comfortable enough. Those will be hit the hardest.

@omarsingh3578 7 ай бұрын

This, in the long run, will incite people to do less in order to get UBI. People need to work more. Get the skills to thrive in the new economy.

@joemahony4198 Жыл бұрын

With the open borders of the US and the UK UBI would increase immigration to an even greater extent. The welfare state needs to either control immigration or end.

@PlaychequesFinancialPlanning 2 жыл бұрын

Hasn't worked anywhere it's been tried, but hey if the billionaires want to pay for it they can go ham on doing so. Leave the rest of us out of it though - we're already taxed to death.

@GrizzlyStoned 5 жыл бұрын

Where does the money come from? Taxes? Just lower taxes then. Why pay the government taxes just to have them turn around and give it right back? When you factor in administration costs and the governments inability to manage current social programs money will actually be lost. (Social security money is supposed to be held in trust and invested, but currently it's spent as soon as it comes in and the program won't be sustainable for much longer)

@OgallalaKnowhow 5 жыл бұрын

"Easier and less risky would be to extend the privilege enjoyed by banks, to hold digital money at the central bank, to everyone... Money is commonly considered a liability of a central bank. Accountants would frown at distributing new money without obtaining assets in exchange [...] since they would create a huge negative position of central bank balance-sheets. But an institution that can create its own money cannot go bankrupt. As long as a central bank is keeping to a policy target (like a 2% inflation rate) an ugly balance-sheet is not a problem." "Central banks should consider offering accounts to everyone," The Economist, May 2018

@HagiaFantasia Жыл бұрын

If I had universal basic income I'd start a small business, maybe have a kid and go back to college, I don't mind if we lose some fast food workers and less scamming phone calls

@kelvinbel8910 5 жыл бұрын

Loaded with supposition and narrow perception

@explodingwolfgaming8024 5 жыл бұрын

I thought Stockton was bankrupt? How are they going to pay $500 to everyone in Stockton (if they decide that amount and to go forward with it)

@prateekraisinghani4578 5 жыл бұрын

The billionaire in the video, Chris Hughes, has agreed to pay a portion of the money.

@explodingwolfgaming8024 5 жыл бұрын

@@prateekraisinghani4578 Yes I know, but he can't pay everyone in Stockton every year. Eventually people will be taxed more and that UBI will dry up.

@FirstnameLastname-hq5rd 5 жыл бұрын

@@explodingwolfgaming8024 As of right now, maybe. But in the next few decades when increased automation provides free labour, that can generate more money to be spent by governments. And private companies will have more taxable income

@explodingwolfgaming8024 5 жыл бұрын

@@FirstnameLastname-hq5rd There are ~310000 people in Stockton. $500 for each of them would cost $155,000,000 per month or $1,860,000 A year. That is a lot of money for a bankrupt city to come up with even with automation. That is also assuming automation does bring massive productivity growth, and it also depends on how much automation. Another problem with UBI is that all someone has to say is "I will raise UBI by $150 per month" and they will get elected

@woodbmx213 5 жыл бұрын

@@explodingwolfgaming8024 I think he mentioned that only 100 people will be involded in this experiment

@gastonbocco4409 5 жыл бұрын

Oh yeah tell that to Argentina

@adamstokes 5 жыл бұрын

Yeah umm... Anyone heard of equilibriums in economics? How about inflation? Give out free money = push up prices = all that free money devaluing. Sorry, but that's just how it works no matter how good the intent.

@FeaturingDiversity 5 жыл бұрын

Look in these pilots UBI probably works... However if it's scaled and I as a real estate owner know, everybody gets 1k more than they did before i would just increase rent by $700... the greed will take full advantage of this and will funnel more money toward those with leverage (and those with leverage are usually already better off)

@FeaturingDiversity 5 жыл бұрын

@Jeff Dougherty Living space is such a scarce commodity, that I think everybody would do exactly the same.... There already isn't a lot of competition today

@FeaturingDiversity 5 жыл бұрын

@Jeff Dougherty I agree... The consumer looses (I would be at this end by the way) ... I also agree that the system is Broken in that sense... I am just not sure, that UBI would fix it... I think there are other methods, that are more effective

@chiyerano 5 жыл бұрын

I would be all for it if the money given were sound and you don't have to worry about losing it if you somehow you increase your income.

@tellingfoxtales 5 жыл бұрын

Mannabase have an interesting UBI concept.

@RShaun 9 ай бұрын

My only criticism of this is near the end, the gentleman assumes cost savings from automation would be passed to consumers…😂😂😂. That’s more idealistic than UBI.

@ignaciobenjamindebortoli7819 5 жыл бұрын

They should study Argentina's case. Here, gov gives money per children to the poor, only condition being that they should be sent to a (probably public, totally free) primary and secondary school.

@ignaciobenjamindebortoli7819 5 жыл бұрын

As for results, on the one hand it keeps many people alive in awful moments for the country. Yet, poverty, inequality and malnutrition have gone upwards since it's here, and children's education and other aspects have worsened terribly. Another thing is that this expense represents a considerable portion of national budget, and a very, very good tool for populist agendas to play with.

@vlado2701 5 жыл бұрын

I don't really like money but I respect the way of decent independence in them.

@jw362 5 жыл бұрын

I don't understand how universal basic income won't simply become the new-0- or "no income."

@nikpapan 3 жыл бұрын

If the production of certain goods will become very inexpensive due to technology, it will be possible to buy those goods with the basic income. Maybe there will still be poor people, but what it means to be poor will be different. Just like in countries, where healthcare is a basic right. There are still poor people, but they can go to the doctor when they feel ill. At least this is where the concept aims at I presume.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@bunga_raya96 5 жыл бұрын

The Economist is very much right leaning and advocate free markets. The minute they start talking about Ubi that's when you know it's legit. I like this platform because they aren't dogmatic, there's always reference to research and if numbers point I've way they support it.

@amit4Bihar Жыл бұрын

What's the obsession with ubi? No wonder, billionaires are supporting UBI. UBI will ensure democracy is ended. What is actually needed is better wealth income distribution, that the productivity gains are distributed to the labour market and not only the billionaires and that unions must become stronger and more representative of public.

@adamdominguez656 4 жыл бұрын

Nobody is talking about what this will do to the overall system of prices. How will $1,000/month UBI affect store supplies? Rent? Will that raise prices? Will it lower prices? What about $5,000/month? Can we have $10,000/month? How will this affect immigration?

@prilep5 5 жыл бұрын

How much they give to the banks and the CEO?

@bensonmaina7204 5 жыл бұрын

Hhhmmm..so a city can also be declared bankrupt....am learning alot this days

@AvailableUsernameTed 5 жыл бұрын

In 1975 the city of New York almost declared bankruptcy. (source wikipedia & my aged memory)

@S2Tubes 5 жыл бұрын

Entire countries can default on their loans if they want to. It tends not to end well for the people living there though.

@JK-gu3tl 5 жыл бұрын

It helps to elect a democrat.

@Thomas-Bradley 5 жыл бұрын

Have you never heard of Detroit before?

@bensonmaina7204 5 жыл бұрын

@@Thomas-Bradley i have hard about it..am still open to learn more about detroit

@constancaazeredo5845 3 жыл бұрын

I think it would be interesting to cut some hours from the usual 8h job day. More people would have jobs and quality of life could increase too

@brianhill3837 5 жыл бұрын

Why not just allow people at a certain wage, depending on county, not pay any income tax?

@johnhall8364 5 жыл бұрын

The idiocy and arrogance of people who think that giving money to people for doing nothing won’t destroy the souls of people and in turn our society! These tech billionaires deserve full credit for their personal success but I think their egos grew as fast as their bank accounts. Look what our current welfare state has already done to the bottom rung of society! We need more personal responsibility not less.

@JK-gu3tl 5 жыл бұрын

The last jobs that could be automated is trades. Assuming the worst, I think the economy fractures into two divisions: One with elites (think nerds with six figures, the IQ cream of the top) and everybody else doing handyman type work.

@kristine8338 5 жыл бұрын

Money in whose hands, the majority? The minority? Per person, per family, citizen,...

@happyandhealthy888 4 ай бұрын

High quality companies don't get clients. That is completely wrong, just check how many Lamborghini were selled....??

@Xergecuz 5 жыл бұрын

Basic income won't work, most of what people in the US earn goes into housing and transport, both are monopolies, if you give people more money they will still spend it on housing and transport because the house market will just go up, if you want to help americans instead of giving them more money, increase the supply of affordable housing in large cities, this will make housing prices drop, and 15 dollars an hour when you're paying 500 dollars for rent instead of 1300 will become a great salary that will allow you to take care of yourself and your family, add to that cheaper healthcare and education and you have solved most of America's problems.

@DaneRates 4 жыл бұрын

This experiment should be conducted in all 50 States. For some reason the organization preforming the UBI in this video did not realize their version is flawed. How can this succeed with no financial or educational guidance? Or at least a life training coach. Their presence living conditions shows the need for this. The objective is to evolve and improve their lives so familys can be totally self-sustaining. Not to have generations after generations of familys living in in poverty relying on the government to live. The world population keeps growing whether your rich or poor.

@amit4Bihar Жыл бұрын

@philippfrank4742 3 жыл бұрын

What about the inflationary effect this will have

@antoine.fontanille9948 4 жыл бұрын

Why in the whole video, there is no one of the people interviewed who studied the economy, just people from the so trendy "Californian start-up world"?

@RandomPerson-go5sn 4 жыл бұрын

It really depends on the culture and economy. In Brazil, they had a program called “Bolsa Família”, which was a cash handout. It really didn’t help unemployment and people actually used the money for personal pleasures more then they did for food or bills.

@catvisiontv855 Жыл бұрын

If people really want this ... they would petition and get it on a ballot..

@hiltonm.cardoso340 Жыл бұрын

nossa cala boca, espalhando desinformação de graça... o bolsa família foi importante pra combater a miséria

@Yesser.a6664 5 жыл бұрын

I think if you want money go get a job and work for it. Next generation is gunna grow up lazy if they do this and where the heck they gunna get all this money from to pay people? Taxes? From the air. I believe in hard work.

@user-ci8zu1wx2z 6 ай бұрын

but giving people free money isnt going to work . because the more money you hand out the more the price of goods go up , hence grocceries and rent due to covid 19

@The_Revolutionist 5 жыл бұрын

Andrew Yang 2020 !

@chsgs9009 5 ай бұрын

hilarious to see Sam Altman referred to as president of Y-Combinator instead of OpenAI 😂

@MelvinJ64 5 жыл бұрын

How do you create value without working?

@davidwalz94 5 жыл бұрын

Ask the Bankers and Stock Brokers

@hiddenname9809 3 ай бұрын

It should be $3,000 monthly UBI for everyone. No questions asked.

@DharmendraRaiMindMap 5 ай бұрын

If not ubi than tubi ie targetted ubi to ppl below the poverty line is an idea whose time has urgently come

@hbarudi 5 жыл бұрын

If possible privately, otherwise we can't rely on government to do this with $23 Trillion in debt.

@rafiqteli8502 4 жыл бұрын

Surely, the cash transferred for free benefits the society if it is transferred in the favour of the poorest people in the society.

@candyfloss184 5 жыл бұрын

Unconditional cash transfer is no no....it will lead to inflation.

@moneymanfernando1594 4 жыл бұрын

They have to do a lot more experiments with this idea to see how well it works. But the goal is not to lower unemployment or to see what effect it has on inflation. The goal is to reduce poverty.

@amit4Bihar Жыл бұрын

@ChristineCircelli 5 ай бұрын

Yes , Yes and Yes.

@tanujSE Жыл бұрын

It's just imaginative state that society won't come in conflict for fundamental need of majority,the decisive being proletariat however their number reduced as Engels rightly said "abolition of anti thesis between town and village is utopia just like abolition of anti thesis between capitalist and wage workers"

@Hotmanden 5 жыл бұрын

how about sound and fair money?! that's the real sollution

@Hotmanden 5 жыл бұрын

The central banking system i coming to an end. Let's embrace a free money/crypto market!

@ignmorales 5 жыл бұрын

Maybe California needs to leave the US, built its own country with its own central bank, pursuing its full employment of resources. After all, once I saw a Federal Reserve paper saying that parts of the US does not meet the optimum currency area criteria, meaning they could do better with a currency other than the Dollar.

@user-ci8zu1wx2z 6 ай бұрын

it should be a requirement to at least work part time to get a "top off"