Universal Basic Income Is Improved Capitalism

Capitalism in a free market with fair competition is the base of innovation and prosperity, but it has a side effect. There is a lot of poverty and inequality.

Universal Basic Income (UBI) is what is missing in order for Capitalism to work for everyone, it’s the missing piece of our system.

Apart from the proven facts that Universal Basic Income (UBI) results to, like reduced poverty and crime, inequality and of course, poverty, it also does something truly extraordinary.

A UBI can actually boost the U.S. economy by $2.5 trillion, according to experts.

“In recent months, everyone from Elon Musk to Sir Richard Branson has come out in favor of universal basic income (UBI), a system in which every person receives a regular payment simply for being alive.

Now, a study carried out by the Roosevelt Institute has concluded that implementing a UBI in the U.S. could have a positive effect on the nation’s economy.”, the report also mentions.

“A monthly check of $1,000 delivered to every American adult would grow the US economy by roughly $2.5 trillion over eight years, a new study found.”, Business Insider reports.

In addition to all the above facts that prove that a Universal Basic Income (UBI) is necessary, automation makes it even more important and essential.

It’s estimated that 80% of all current job positions will get replaced until 2050, including the most popular ones, like truck driver and cashier. Note that Amazon and Walmart have already opened cashier-less stores.

Andrew Yang is running for President in 2020, and seem to be the only one who can actually make Universal Basic Income a reality for America, UBI is first on his agenda.

Tom Frl

Writer on Luref, @TomFrl on Twitter.

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