Author Archives: Scott Douglas Jacobsen

December 2016 Sam Altman interview in Business Insider

Credit to Business Insider According to Chris Weller from Business Insider, Sam Altman, President of Y Combinator (the largest startup accelerator in Silicon Valley), recently voiced some of his doubts regarding people replacing their current work with other meaningful work or activities if given a basic income. Weller reports Altman puts faith in the provision of free money to make

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INDIA: Ajit Ranade, “From NREGA to universal basic income”

Anjit Ranade, senior economist based in Mumbai, writes in The Free Press Journal that a direct universal cash benefit “can replace ill-targeted subsidies on cooking gas, fertiliser and food grain,” under India’s current welfare system. 4.2% of India’s Gross Domestic Product (GDP) is spent on subsidies: electricity, fertilizer, food, oil, rail, and water. Many of the subsidies do not make

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Gigi Foster, “Universal basic income: the dangerous idea of 2016”

Credit to The Conversation Universal basic income (UBI) has gain traction in the developed world. Some citizens in Australia support it. Gigi Foster, Associate Professor in the School of Economics at University of New South Wales, said, “…while good in theory, it’s no panacea for the challenges of our modern economy.” That is, UBI is gaining traction in the developed

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Seoul National University Economy professor Lee Keun says South Korea needs BI

(Image Credit: The Hankyoreh Media Company) According to business writer Kwack Jung-soo, South Korea will need to make fundamental changes to its operations due to the nation’s prolonged low growth and lack of new growth engines. In a new book entitled 2017 Grand Forecast for the South Korean Economy, 43 economics experts provide analyses and possible solutions to the economic crisis in

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Øyvind Steensen, “Den norske modellen versjon 2.0” (BI as continuation of Norwegian Model)

(Image Credit: Gjesteblogg) Øyvind Steensen describes the Norwegian model, which involves two citizen salary schemes – family allowances and minimum pension, and possible improvements to it. The change to the current welfare system would be the provision of a basic income. Steensen describes basic income as “a basic citizen wages granted without means testing for all adults residing in the

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“Changing employment trends and universal basic income” (The Saturday Paper)”

Mike Seccombe, National Correspondent for The Saturday Paper, reported on the recent championing of a universal basic income (UBI) by those interested in the cause and concerned about  “wage inequality at record highs and technology plundering jobs.” In particular, the article focuses on the support for UBI shown by Elon Musk. Musk is heavily invested and involved in the technology

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Jorge Valero (Bruselas), “Gana fuerza el debate sobre la renta básica universal en Bruselas” (Winning debate on universal basic income in Brussels)

Jorge Valero (Bruselas) reports that digitization is a “recurring theme in Brussels.” He points to the need to adapt the welfare states.   Bruselas says this is part of a public debate around “collaborative economics, advanced robotization, artificial intelligence or the so-called internet of things,” which was previously avoided as a topic in the public. He notes the new public

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An Interview with Tim Dunlop (Part Two)

Interview by Scott Jacobsen *Conducted via email with minor edits.*   The economy has shifted into high gear for knowledge and ability, the currently labeled Knowledge Economy concomitant with the Fourth Industrial Revolution. How has this affected inequality based on standard metrics of knowledge and ability, such as credentials from post-secondary institutions in relevant disciplines?   It has pretty much

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UBI – real solution in perfect storm of debt

A new report from the investment service Wealthify reveals that many Scottish people are unable to save for the future because of “zero hour contracts, insecure work and low pay.” Moreover, according to the report, Scottish women save less than half of the money of men, and 10 times less than some areas of England. Campaigners have proposed a universal

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