Speaking as part of a roundtable discussion in the McKinsey Quarterly, Jeremy Howard suggests that we have to ‘accept that in this new world, there’s a large group of people who can’t really add economic value anymore, but that doesn’t mean they don’t get to live a decent human life.’ In response to this, ‘we have to start thinking about the policy implications—like a basic living wage, which Germany will be introducing, or a negative income tax, which has been off the agenda for decades but deserves to be back on it. I think people should start to think about these policy implications because the point at which we need to make decisions will be upon us suddenly.’
The full article is available here:
Erik Brynjolfsson, Jeremy Howard, Robert Schiller, “The Great Decoupling”, McKinsey Quarterly, September 2014
