Elon Musk backs 'universal high income' to combat AI job losses
4 hours ago
- #Artificial Intelligence
- #Economic Policy
- #Universal Basic Income
- Elon Musk proposed 'universal high income' (UHI) via federal government checks to address AI-driven unemployment.
- Musk argued AI and robotics will produce goods and services exceeding money supply growth, preventing inflation.
- Economists like Sanjeev Sanyal countered that AI creates new jobs and opportunities, and UHI could bankrupt governments.
- Pratyush Rai of Merlin AI criticized UHI, stating it would increase competition for limited resources like housing and schools.
- Andrew Yang expressed tepid support, suggesting AI should fund universal income, distinguishing UHI from his earlier UBI proposal.