Basic income may be needed to combat robot-induced unemployment
I am genuinely concerned for the millions of Americans who drive for a living. Autonomous vehicle technology is a clear and present risk to that class of work. Like the rust belt of the 80s and 90s as manufacturing moved out of the US, there will be a major shift in where people work and what kind of work they do. Many, if not most, of those affected will go through hell getting their lives sorted out again.<p>There are other affects of autonomous vehicles to consider. Labor is a major cost of shipping or taxiing. Accidents and the resulting repair, liability and insurance costs are expected to come down with autonomous vehicles. So the cost of just about everything we buy will come down, and we&#x27;ll spend that difference elsewhere. Those &#x27;elsewheres&#x27; will then see more employment.<p>What we can expect, at a macroeconomic level, is not massive national unemployment, but a transition period as the work opportunities change.<p>At a micro economic level, it will be very painful for millions as they go through the transition. I don&#x27;t know if a basic income can make this transition smoother for the country, but it is worth studying.