On episode #73 of “The Waking Up Podcast”, host Sam Harris discusses the potential merits of Universal Basic Income with political science researcher and author Charles Murray.
The conversation begins at 1:52:22.
Harris opens by describing Universal Basic Income (UBI) as “a possible remedy for the increasing role automation is playing in this economy”.
“The idea is that you replace the current system with a UBI, and that you leave people alone to make their own decisions about how to use it,” Murray said.
He insisted that the money be deposited every month, electronically, into a known bank account and that this type of income stream gives people moral agency.
Murray went on to say, “I think replacing the Welfare state with UBI is going to be the rare case where you have side effects – not unintended side effects that are terrible – but unintended side effects that have the potential for rejuvenating America’s civic culture.”
Both Harris and Murray agreed that A.I. has the potential to radically transform the job market, unrecognizably, within 20 or 30 years.
Harris, who has expressed his concerns about UBI with previous guests on the podcast, asked, “Are you worried at all about the incentives just not being aligned if you give out UBI? Is there any tweaking of it that makes it more likely to produce the good changes you’re picturing?”
Murray responded by describing his plan.
“There are a couple of really, really important things. One of them is that indeed you do get rid of the other Welfare state services, and that you have a very high point at which the guaranteed income is subject to a surtax. I want to lure people into working so they get to a point where they can’t afford to quit. In my plan, I say it’s $30k of earned income, so until you get $30k of earned income on your own, you keep all of the…let’s say, $12k, and then after that you start to pay a small surtax back. Anything you go out and earn, you keep. So you’ve gotten into the habit of working and if you’ve gotten up to $30k, you are not going to trade a $42k per year lifestyle for a $12k per year lifestyle. But if you have the payback point quicker, I think you increase the likelihood that you have disincentives to work. It needs to be deposited electronically into a known bank account. It needs to be universal because one of the key things about this is that everybody knows that everybody else is getting the money. Once you have that universal knowledge, then a whole variety of interactions can be set in motion that wouldn’t be set in motion without that knowledge.”
Murray also discussed the potential for work disincentives, which is a common criticism of UBI.
“You can fairly easily design it so it’s quite likely to produce good effects. I am not denying it will have work disincentives. There will be work disincentives. But we are already at a point where something more than 20% of working-age males with high school diplomas – and no more – are out of the labor force. We’ve got a problem already and I see a lot of ways in which the moral agency of an income could make the problem less.”
Founded in 2014 by futurist and philosopher Zoltan Istvan, the Transhumanist Party is an American non-profit political organization, which advocates the use of non-discriminatory implementations of science and technology to solve a majority of the world’s problems. Despite being in its early stages, the Transhumanist party has been incredibly inspirational for millions of people who are seeking modern, progressive solutions to the challenges we face as a species.
The current leader of the Transhumanist Party, Zoltan Istvan, is running for US president in 2016. At the heart of Zoltan’s platform is a focus on the use of science and technology in the pursuit of immortality. He also promotes free education for all, an end to US military actions abroad, and the implementation of a Universal Basic Income (UBI).
Zoltan was kind enough to answer a few questions for Basic Income News, specifically regarding his support for a UBI.
Dawn Howard: You have made UBI part of your 2016 presidential election platform. Can you tell us who you are thinking about appointing as your chief economics advisor? Does he or she have experience designing or implementing UBI pilots?
Zoltan Istvan: A UBI Plan is a huge part of my campaign. As someone who contemplates technology all day long, I am sure that robots are going to take many if not nearly all jobs in the next 10 to 35 years. So we need a way to transition society to being able to happily live in an age where there are no jobs. UBI is the perfect vehicle.
While I have advisors helping me sort out the basics of implementing a basic income, I can’t reveal who might fill the role of implementing that program. But we would draw on experts that have already had some experience in their own nations of doing so.
DH: Several countries including Canada, India and most recently Finland have already tested or are in the process of testing basic income for a small portion of their population. How do you feel about this type of research, and do you think it could work in the US?
ZI: One of the best things to happen to the world in the last few years is having smaller populated nations test out a UBI. It gives the larger nations the evidence they need to confidently implement their own plans one day, and it offers a road map to follow.
DH: Many in the UBI community speak of a “transition” in terms of the timeline between passing legislation and full implementation. In as little or as much detail as you wish, can you tell us what you think this transition would look like?
ZI: I think the transition would probably take five to six years to fulfill from the point legislation passed to everyone having a basic income. While I support a quick transition, we also must be careful not to disturb our national economy too much as this historic process takes place. It would be better to do it slowly, but correctly, rather than force it and lead to a recession, or worse. Capitalism is changing due to technology, and may not even survive 30 years into the future. We must be able to change with it and help the needs of every single citizen out there. But we must also not be hasty.
For more information about Zoltan’s presidential campaign, visit his web site here.
Photo: Zoltan Istvan, leader of the Transhumanist Party and US presidential candidate. Credit: Business Insider.
