The issue is the incentives aren’t aligned during the transient period. The first industries to be displaced will not benefit from this income redistribution. Yes, when everyone is out of a job the robot tax will make sense, but before then vast swaths of people will be out of a job with no UBI. This is of course where the VCs will make their money since a 99% tax will make their investment worth significantly less.
I can listen Vinod for the Day.
Thanks for posting.
The issue is the incentives aren’t aligned during the transient period. The first industries to be displaced will not benefit from this income redistribution. Yes, when everyone is out of a job the robot tax will make sense, but before then vast swaths of people will be out of a job with no UBI. This is of course where the VCs will make their money since a 99% tax will make their investment worth significantly less.
Nothing will happen like that...