The hybrid economy: Why UBI is unavoidable as we edge towards a radically superintelligent civilization

 

“Basic income is not a utopia, it’s a practical business plan for the next step of the human journey.”  –Jeremy Rifkin

 

Unconditional Basic Income (also called ‘basic income guarantee’ or ‘social dividend’) is a system of social security in which all citizens or residents of a country regularly receive an unconditional sum of money from a government regardless of any other income. Pilot programs have been introduced in a number of European countries, that are aimed at replacing outdated bureaucratic welfare systems altogether. In the U.S., various tech leaders including Elon Musk, Bill Gates, Jack Dorsey, and Mark Zuckerberg are supporting the idea. In the coming Age of Superintelligence [and automation] everyone should be entitled to social dividend, “free” money such as UBI, just for being alive. We should not forget that the wealthiest of us would not be as fortunate without civilization. Otherwise, Jeff Bezos would have to forage for food in the Amazon jungle all by himself. Being a human today is more than enough of a fair contribution to receive free money from the government. Going forward we'll see more and more prominent voices vouching for UBI.

The Economic Singularity: From Capitalism's Unplanned Obsolescence to the New Transcendent Economy

           

"The social inefficiency of capitalism is going to clash at some point with the technological innovations capitalism engenders, and it is out of that contradiction that a more efficient way of organizing production and distribution and culture will emerge."   —Yanis Varufakis

The current economic system distributes wealth in a very focused manner that prevents a vast majority of humans from being adequately rewarded by the technologically advanced civilization. These factors undoubtedly condemn today’s system of suboptimal economics to the realm of classical models of history as a result of impending obsolescence. In brief, the current faltering economic model is suboptimal, hinders economic growth, and is not sustainable going forward.