UBI and the tech bros
Elon Musk thinks everyone should get a universal high income, under his brave new world. Is this the world where he plays God?
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
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Show Notes
The small number of technologists who increasingly control the planet’s wealth and political and social agenda are, it seems, big supporters of UBI. Elon Musk is at the forefront of this push. And why wouldn’t he be? His vision is a future of unbounding economic growth, in which the work of humans is almost completely replaced by robots, leaving us all plenty of time to pursue interests, engage in deep philosophical thought or, more likely, get fat watching daytime TV with no sense of purpose.
This week Phil and Steve look at the consequences of Musk’s vision and discuss the one factor Musk has yet to answer – where does the money come from? Steve says the tech bros don’t seem to grasp the workings of fiat money creation, which h might be part of the answer. But Phil is more concern ed about the power that Musk and his brethren wield. Do we need to redefine capitalism, so the power of these feudal tech lords is diluted by working cooperatives, to ensure technology is used for the betterment of society and not leading to a hunger games future?
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