Universal Basic Income Revisited

Approximately a year ago we noted that there had been a number of proposals by economists and political scientists relating to the concept of universal basic income.  (Click here to read our Universal Basic Income blog from 17 Dec 2015) 

A few days ago, Tesla Motors CEO, Elon Musk, suggested that universal basic income, or something similar, is essentially inevitable.  His argument is based on the significant increase in automation in manufacturing and concurrent reduction in the need for as much human labor.

While there is little likelihood of a significant shift to universal basic income in the near term, longer term, this concept may prove to be an acceptable approach to providing greater economic equality.

All comments and suggestions are welcome.

Walter J. Kirchberger, CFA®