Former Vice President Joe Biden comes out against universal basic income.
Biden's answer to unemployment caused by technology is more funding for schooling.
Too often I hear people talking about how the jobs of the future require skills that our workers cannot attain. That's simply not the case. Today, workers in manufacturing plants already rely on complex computer systems. As I learned a long time ago, it is never a good idea to bet against the American people." (the link to his blog post on UBI is down)
Under universal basic income, people can still choose to work and, or not work. Biden appears to be making the assumption that people won't work if given UBI. In actuality, UBI will allow people to be more entrepreneurial and take risks they could not have taken before (or face social ruin). He also assumes that there will be enough jobs available for those looking to work in the face of automation.
While I appreciate concerns from Silicon Valley executives about what their innovations may do to American incomes, I believe they're selling American workers short. The future will not change the enduring American values that got us here. Our children and grandchildren deserve the promise we've had: the skills to get ahead, the chance to earn a paycheck, and a steady job that rewards hard work.Our effort will look at key policy changes needed for our workers to succeed. (the link to his blog post on UBI is down)
His Biden Institute blog post rejects a big idea (universal basic income), embraces an off-the-shelf idea (free community college), but leaves unsaid what he would do to realize his vision of “a future that puts work first.” He acknowledges the challenge of automation, the importance of higher education and the need to retain “workplace benefits and protections … in an economy where the nature of work has changed.” But he doesn’t have any game-changing answers, yet. In rejecting universal basic income, he is signaling that he is not on the democratic socialist bandwagon, though he is far from the only prominent Democrat not on board.